Fati32

Coin Name: $ETH

Position: Short

Entry Price: 2,725
On the 4-hour timeframe, Ethereum appears to be forming a double top pattern, which is typically a bearish signal. Additionally, the RSI is showing bearish divergence, further supporting the likelihood of a downside move. Based on this confluence of technical signals, I anticipate that ETH may be heading lower in the near term.

On the 4-hour timeframe, USDT.D is forming a descending channel. The RSI is currently holding within a demand zone and is showing signs of bullish divergence, suggesting a potential short-term move to the upside—likely to retest the upper trendline of the channel. However, I expect this move to be temporary, followed by another leg down. It's important to note that when USDT.D rises, it typically signals weakness in the broader crypto market, while a decline in USDT.D is generally bullish for crypto assets.

On the 48-hour timeframe, the ETH liquidity heatmap reveals a significant cluster of liquidity positioned to the downside. This indicates a bearish bias, as price often gravitates toward areas of high liquidity. It's likely that Ethereum will move lower to sweep this downside liquidity before establishing its next direction.

LEVERAGE: 4X

Targets:
1st TP 2,600
2nd TP 2,540
3rd TP 2,450

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$ETH