Coin: $ETH (ETHUSDT Perpetual)
Current Price: $2,497.81
24h Change: -2.5%
Position: LONG
Entry Price: $1,550
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Technical Overview
On the daily chart, Ethereum (ETH) $ETH
appears to be forming a potential “W” pattern, often seen as a bullish reversal structure. However, ETH recently faced rejection at a significant resistance level, signaling the potential for a short-term correction before any further upside.
The Relative Strength Index (RSI) has broken down from its support and remains within a supply zone, adding weight to the likelihood of a minor pullback. This setup favors a longer-term position, with a personal preference for spot trading over futures—though futures remain viable with strict risk management.
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Monthly Outlook & Liquidity Zones
On the monthly timeframe, ETH is hovering above a major liquidity zone, indicating the potential for a downward sweep to gather liquidity before any meaningful upward trend resumes. This aligns with market behavior often seen before strong rallies.
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ETH Dominance (ETH.D) Analysis
The weekly chart of ETH Dominance is also forming a possible W pattern, supporting the broader bullish narrative. Coupled with a bullish divergence on the RSI, this could signal growing strength for ETH in the coming weeks—if confirmed.
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Key Targets
1st Target: $2,000
2nd Target: $2,500
3rd Target: $3,000
4th Target: $4,000
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$ETH