Ethereum 2/17 (scalping + forecast)

🔥Market Overview:
Trend: Ethereum is recovering from a downtrend, currently testing key resistance on the 2H timeframe while maintaining a bullish structure on the weekly chart.
Key Levels: ETH is trading between $2,700 – $2,850, facing critical resistance near the 200 EMA.
Resistance:
🩸 Major Resistance: $2,850 (breaking above unlocks $3,000+).
🩸 Local Resistance: $2,820 (sellers defending aggressively at this level).
Support:
🩸 Major Support: $2,700 (if broken, expect $2,600 as the next downside target).
🩸 Local Support: $2,740 (short-term buying pressure observed).
Indicators:
MACD (2H, 1D): Bullish crossover on 2H, signaling short-term upside potential.
RSI (2H): 75+, indicating overbought conditions—possible short-term pullback.
EMA 200 (2H, 1D): ETH is retesting the 200 EMA, a key level to watch for a breakout or rejection.
🔥 Scalping Strategy:
🩸 1. Breakout Scalping (Momentum Trading)

Long Entry: Above $2,850, targeting $3,000.
Short Entry: Below $2,700, targeting $2,600.
🩸 2. Range Scalping (Sideways Trading)

Buy: $2,740 – $2,780, targeting $2,820.
Sell: $2,820 – $2,850, targeting $2,750.
Stop-loss: Below $2,720 (for long), above $2,860 (for short).
🩸 3. EMA 200 Scalping

If ETH rejects EMA 200, short with a target at $2,750.
If ETH breaks above EMA 200 and holds, long with a target at $3,000.
🔥 Mid-Term Trend Forecast (1-3 Weeks):
Bullish Scenario: ETH breaks and holds above $2,850, confirming a move toward $3,000+.
Bearish Scenario: ETH fails to break resistance and drops below $2,700, leading to a test of $2,600 – $2,500.
🔥 News & Market Context:
Macroeconomic Conditions: ETH may see volatility due to upcoming U.S. economic reports.
DeFi & Institutional Flows: No major buying signals yet—watch for volume spikes.
Stock Market Correlation: S&P 500's direction could influence ETH’s next move.
🔥 Decision:
🩸 Short-term: Scalping within the $2,700 – $2,850 range, waiting for confirmation.
🩸 Mid-term: Breakout play above $2,850 or short if rejection occurs.
🩸 Ideal Play: Monitor EMA 200 reaction—this will dictate the next major move.

👑 Final Verdict:
Ethereum is at a make-or-break point, testing major resistance at the 200 EMA. A confirmed breakout opens doors for $3,000+, while rejection leads to another range-bound period. Scalp aggressively within the range but wait for confirmation before committing to bigger plays.

🔥 FinCaesar's Quote:
"Only fools rush into uncertainty—great traders wait for the perfect strike." 👑