📊 [ETH/USDT Weekly Outlook]
Price action on ETH is heating up 🔥 as we approach a critical confluence zone on the weekly chart.
🧠 Key Observations:
• Price: $2,540 (-7%)
• Rejected multiple times at MA50 ($2,690) & MA100 ($2,616) — acting as dynamic resistance.
• Currently testing MA200 ($2,446) — a historically significant level for trend reversals or breakdowns.
• Stoch RSI is at 97.80 — indicating heavy overbought momentum on weekly TF.
🧩 Market Structure Insight:
• ETH formed a macro higher low at $1,385, followed by a strong bullish engulfing candle.
• Price now forming a compression pattern between MA200 support and MA50/MA100 resistance — this squeeze often precedes an explosive move.
• If bulls reclaim MA100 with strong volume, expect a rally toward the $3,045–$3,645 resistance zone.
🚨 Trader’s Note:
We’re in a “compressed bullish recovery” phase — but not out of the woods yet. Patience is key.
📅 Weekly close above $2,700 = trend confirmation
❌ Rejection & close below $2,400 = watch for downside retest toward $2,100