$ETH

1h:

The downtrend is currently ongoing, and there are no clear signs yet that the downward movement has ended. Especially if there is a rise into the resistance zone between 2324.19 and 2347.98, entering a short position after a retest in this area would be ideal. For a short entry, confirmation (e.g., a clear bearish or reversal candle on the 5m/15m timeframe) must be considered. The targets can be 2247.16 and lower.

If the price breaks below and closes under the 2247.16 level, a strong continuation of the downtrend is likely, and attempting a long in that case would be risky.

For a clear trend reversal in the market, the price must hold above 2347.98 and close with high volume. In that case, I will abandon the short bias.

The stop-loss should be based on swing highs/lows — for example, above 2348 when entering a short, and below 2247 when entering a long. #USNationalDebt