๐ ETH/USDT Analysis โ Bearish First, Bullish Later? Letโs Break It Down! ๐
$ETH
Hey Binance Square Fam!
Hope you're all doing great! Letโs dive into the latest analysis for #ETHUSDT, which might be setting up for a two-phase move โ first a drop, then a potential rally.
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๐ Market Observation
Based on the current chart structure, Ethereum (ETH) looks like it could move down to the $1,658.33 support zone. This level may act as a base for accumulation, leading into a range-bound phase before the next trend begins.
Once the range breaks on a lower timeframe, a new bullish trend could kick off โ with a potential target at $2,920.
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๐ Bearish Expectation
A dip toward $1,658.33
Possible sideways consolidation afterward
Patience required during the accumulation phase
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๐ Bullish Scenario
Watch for a clean range breakout on lower timeframes
If confirmed, this could trigger a move towards $2,920
Volume confirmation and candle structure will be key
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๐งญ Key Levels to Watch
๐ป Support:
$1,658.33 (potential drop and base zone)
๐ผ Resistance:
$2,920 (bullish target post-range breakout)
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๐ก Strategy Insight
Wait for the drop and consolidation to complete
Track range formation on the 1H/4H timeframes
Confirm breakouts with volume and price action
Donโt rush โ let the setup form before entering
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๐ฌ Whatโs Your ETH Outlook?
Are you expecting a breakdown first or is ETH ready to pump early?
Drop your analysis and thoughts in the comments โ letโs trade smart together!
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#ETH #ETHUSDT #Ethereum #CryptoTrading #TechnicalAnalysis #BinanceSquare #MarketUpdate #Altcoins
