Current Price:
$2,451.22
Down 0.98%, showing slight weakness but holding above short-term support.
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🔸 Key Moving Averages:
MA(7): $2,446.19 → Short-term support zone.
MA(25): $2,407.77 → Mid-term support.
MA(99): $2,503.27 → Strong resistance overhead.
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🔸 Support & Resistance:
Support Zone: Around $2,407–2,446 (MA confluence zone)
Resistance Zone: Around $2,503–2,569 (MA(99) & recent highs)
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🔹 Candlestick & Trend Insight:
The price recently bounced off ~$2,390, forming higher lows.
A mild bullish structure is forming but facing rejection near the MA(99).
Volume is declining, indicating low conviction in the current move.
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🔸 Trade Outlook:
Bullish Bias if:
ETH breaks and closes above $2,503 (MA(99) resistance) with volume.
Then potential target: $2,569+
Bearish Risk if:
ETH falls below $2,407 (MA(25)) or $2,390 low.
Then downside targets: $2,290 → $2,189
#EarnFreeCrypto2024 #ETHETFsApproved
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it strategy for a short-term trade setup based on this chart?