Hello Binance Square Family!
Letās talk Ethereum (ETHUSDT) ā a pair thatās been trading sideways but may be setting up for something very interesting!
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š Recent Market Behavior
Over the past month, ETHUSDT has been in a sideways consolidation phase, gradually drifting toward a major support zone around $1700. Aprilās monthly candle has already closed bearish, showing weakness ā but that might just be the trap before the bounce.
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ā ļø Eyes on the 1700 Zone
As we enter mid-month, all eyes should be on the $1700 level. Hereās what could happen:
A fake breakout below $1700 may trigger stop hunts and shakeouts
If the price shows reversal signals post-dip, it could offer a prime long entry
This is a classic liquidity sweep scenario followed by upward continuation
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šÆ Mid-Term Target: $2300
If the support holds and bullish confirmation appears, weāre targeting the $2300 resistance zone as the mid-term objective. This level lines up with previous price reactions and represents a meaningful upside if the market sentiment improves.
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š§ Key Takeaways
Support Zone: $1700 ā watch for fakeouts or bullish candle formations
Buy Signal: Reversal structure after liquidity grab
Target: $2300 mid-term
Risk Management: Always set stop-losses below invalidation
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š¬ Letās Talk ETH!
Whatās your take on Ethereum this week?
Are you buying the dip or waiting for more confirmation? Drop your thoughts in the comments ā letās grow together as a community!
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#Ethereum #ETHUSDT #CryptoAnalysis #TechnicalSetup #FakeoutStrategy #BinanceSquare #SupportAndResistance #CryptoCommunity
