📉 General Trend:
Ethereum is in a clear and strong downtrend since the peak around $4,042 (early 2024).A series of BOS (Break of Structure) and CHoCH (Change of Character) to the downside confirm bearish control.A recent BOS below a weak low indicates further downside pressure.🔍 Support and
Resistance Levels:
🔵 Support:$1,592 – 0% Fibonacci level, a critical low. A breakdown could lead to $1,300 or even $1,000.$1,720–$1,760 – Minor support zone before the low.$1,300–$1,400 – Historical demand block.🔴 Resistance:$2,170 – 23.6% Fibonacci retracement.$2,400 – Order block and strong resistance area.$2,817 – 50% Fibonacci level.$3,512 – 78.6% Fibonacci retracement.$4,042 – Previous strong high.🎯 Short-Term Outlook (Next 1–2
Days): Likely trading range:Downside target: ~$1,750Upside target: ~$2,000–$2,050 (resistance zone)📉
Short Setup: Entry: $2,000–$2,050 (resistance block + bearish confirmation)Take Profit: $1,750–$1,720Stop Loss: Above $2,100Risk/Reward Ratio (RRR): ≈ 1:2.5Trigger: Rejection pattern (e.g., Bearish Engulfing or Shooting Star)📈
Long Setup: Entry: Around $1,600–$1,620 (support zone with confirmation)Take Profit: $1,950–$2,000
Stop Loss: Below $1,580Risk/Reward Ratio (RRR): ≈ 1:2Trigger: Bullish hammer + increasing volume🔻 Lowest
Expected Price: If the $1,592 level breaks, next strong support lies between $1,300–$1,400, with potential to drop as low as $1,000 in a worst-case macro scenario.🔁
Expected Reversal Area: A potential bullish reversal might happen at $1,592 if a bullish structure break or confirmation candle appears.An early reversal could occur if price breaks and holds above $2,200 with strong bullish momentum.🧠
Additional Notes: $ETH
ETH currently appears weaker compared to BTC.A comparison with the ETH/BTC pair might reveal whether it’s a better time to hold BTC over ETH.Rallies are likely to be used by bears for shorting unless significant structure changes occur.🚨🚨👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸Binance Square Family...❤️🔥❤️🔥I hope my analysis has been helpful to you. If you have any questions, please leave a comment. I'm always happy to help.I appreciate your support and Wish you good luck 💐🌺🍁