Ethereum (ETH/USDT) Rebound or Further Drop? Critical Levels!!

๐ Ethereum (ETH/USDT) Daily Chart Analysis โ Feb 4, 2025
๐ด Current Market Overview:
Closing Price: $2,692.12 (-6.52%) ๐
200 EMA Level: $3,128.49 (acting as resistance)
Key Support: $2,250 - $2,400 (Strong Support Zone) โ
Key Resistance: $3,900 - $4,100 (Demand Zone) ๐ฅ
๐ Price Action Insights:
ETH has seen a sharp decline, breaking below the 200 EMA ๐จ.
Price bounced off the Strong Support area, indicating buying interest ๐.
A recovery scenario suggests ETH could retest the $3,000+ zone before heading towards the demand zone near $4,000.
๐ Trading Strategy:
โ Bullish Scenario:
A successful higher low formation around $2,750-$2,800 could trigger a move towards $3,250 - $4,000 ๐.
Look for confirmation of bullish momentum with volume increase.
๐จ Bearish Risk:
If ETH fails to hold above support ($2,400-$2,500), further downside towards $2,000 is possible ๐จ.
๐ฏ Final Thoughts:
ETH is at a critical support; a bounce here could offer a great risk-reward opportunity ๐.
Keep an eye on 200 EMA resistance and volume confirmation.
๐ฌ Whatโs your plan? Are you bullish or waiting for more confirmation? ๐ค
๐ด Current Market Overview:
Closing Price: $2,692.12 (-6.52%) ๐
200 EMA Level: $3,128.49 (acting as resistance)
Key Support: $2,250 - $2,400 (Strong Support Zone) โ
Key Resistance: $3,900 - $4,100 (Demand Zone) ๐ฅ
๐ Price Action Insights:
ETH has seen a sharp decline, breaking below the 200 EMA ๐จ.
Price bounced off the Strong Support area, indicating buying interest ๐.
A recovery scenario suggests ETH could retest the $3,000+ zone before heading towards the demand zone near $4,000.
๐ Trading Strategy:
โ Bullish Scenario:
A successful higher low formation around $2,750-$2,800 could trigger a move towards $3,250 - $4,000 ๐.
Look for confirmation of bullish momentum with volume increase.
๐จ Bearish Risk:
If ETH fails to hold above support ($2,400-$2,500), further downside towards $2,000 is possible ๐จ.
๐ฏ Final Thoughts:
ETH is at a critical support; a bounce here could offer a great risk-reward opportunity ๐.
Keep an eye on 200 EMA resistance and volume confirmation.
๐ฌ Whatโs your plan? Are you bullish or waiting for more confirmation? ๐ค
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JOIN MY TELEGRAM CHANNEL
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JOIN MY RECOMMENTED BROKER REFFREL LINK
โคต๏ธone.exnesstrack.net/a/uvd1etcgg1
PARTNER CODEโคต๏ธ
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
โคต๏ธone.exnesstrack.net/a/uvd1etcgg1
PARTNER CODEโคต๏ธ
uvd1etcgg1
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.