Daily Market Analysis - $ETH

Currently, the focus is on the 3695 support area, as the price has formed support here multiple times. If this level is breached, there's a clear downside ahead. This means there's a swift price surge in the past, creating a gap below 3695. If the price falls below this region, I'll wait for it to reach the 3290 area before looking for opportunities again. This approach helps avoid hasty decisions in a potentially panic-driven market following the breach of a critical support level.

By monitoring the 3695 support zone closely, traders can prepare for potential scenarios. If the price holds above this level, it indicates strong buying interest and a potential bounce-back. However, if it breaks, the absence of significant support levels below could lead to a rapid decline until the 3290 area. Therefore, it's crucial to be patient and wait for the price to stabilize around 3290 before making any moves. This strategy minimizes risk and maximizes the chances of entering the market at a more favorable position. Stay informed and adjust your trading plan accordingly to navigate the volatility in the $ETH market effectively.