Based on the chart for Ethereum (ETH/USD) on the 4-hour timeframe, here’s a detailed analysis:

Note; This is my own analysis and is not financial advise, do your own calculations too before opening trade.

Current Price: $2,541.67

Timeframe: 4-hour chart

Trend: Sideways to Bearish (recent drop, followed by a small bullish reaction)

Technical Observations

1. Recent Price Action

Price recently dropped sharply from around $2,800 to the $2,500 zone.

After the dip, a small bullish candle has appeared—a potential short-term bounce, but not yet a confirmed reversal.

2. Resistance Zone

Strong resistance was observed around $2,800, with multiple rejections.

Price has failed to break above this level several times in May.

3. Support Zone

Immediate support is around $2,500. If this breaks, next key levels could be:

$2,400

$2,300

Major support near $2,100

4. Market Structure

The structure shows lower highs and lower lows, especially after May 27.

This indicates a shift towards a bearish trend, unless bulls reclaim the $2,650–$2,700 area.

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📊 Key Levels

Type Price Zone

Resistance $2,700 – $2,800

Mid Zone $2,600

Support $2,500 (immediate), $2,400 (next)

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🔄 Trading Strategy Suggestions

📉 Bearish Bias (Until Break of $2,650+)

Look for short opportunities near $2,600–$2,650 with SL above $2,700.

Targets: $2,500 ➝ $2,400 ➝ $2,300

📈 Bullish Scenario (Only if Reclaimed $2,650+)

If price reclaims and holds above $2,650–$2,700, consider long positions.

Target: $2,750 ➝ $2,800 ➝ $2,850+

Sell Signal Plan

Entry Zone: $2,590 – $2,650 (wait for rejection w/ bearish candle confirmation)

Stop Loss: $2,710

Take Profit:

TP1: $2,500

TP2: $2,420

TP3: $2,300

Buy Signal Plan (Only if reversal confirmed)

Entry Zone: $2,660 – $2,700 (after candle closes above this zone)

Stop Loss: $2,590

Take Profit:

TP1: $2,750

TP2: $2,800

TP3: $2,850