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Ethereum's Price Action Signals a Critical Juncture
Ethereum is showing a well-defined trend structure. Following the recent high at $2,738 and a pullback to $2,323, the market has absorbed the correction on the 1-hour timeframe. Currently, ETH appears to be experiencing a dead cat bounce at this level.
Unless this bounce can decisively break through the $2,700 mark, we could see another pullback unfold on the 1-hour chart. A retest of the $2,400 zone is likely, and there's potential for a breakdown that could trap aggressive short positions.
Trading Strategy:
If ETH holds steadily above $2,620.40 with healthy volume, consider entering with a small position.
Target: $2,680
Stop loss: $2,600 — exit immediately if this level fails.
If ETH fails to break above $2,620.40 and the MACD prints a bearish crossover, it's time to act cautiously:
Lock in profits on open positions.
Cut back exposure on any open longs.
A downside move could test the $2,550–$2,511 range.
Should ETH break below the MA99 ($2,501.97), exit all positions decisively.
Stay alert and manage risk wisely. Ethereum’s next move could be swift and unforgiving.
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