$ETH 🚨🚨🚨 ETH 4-HOUR ⏳ Timeframe 🚨🚨

#etherreum Support and Resistance Levels:

‼️‼️ Analyzing the Latest Patterns and Potential Moves ‼️‼️

Current Analysis:

• Resistance Levels:

• Primary Resistance: $3,693.34 - This level is acting as weak resistance with a trend strength of 2.85 and an angle of 11°, indicating a 6.14% distance.

• Support Levels:

• Primary Support: $3,366.62 - This level is providing strong support with a trend strength of 4.45 and an angle of 12°, indicating a 3.25% distance.

• Current Price Level: $3,479.04 - ETH is trading closer to the support level but is still under downward pressure.

Latest Patterns:

• Trend Analysis:

• The trend indicators for 50 bars show a sideways movement with an angle of 2°.

• For 100, 150, and 200 bars, the trend is down with angles of -18°, -15°, and -5° respectively, indicating a consistent downtrend over these periods.

• Identified Patterns:

• Double Top: This bearish pattern suggests potential for further downward pressure.

• Anti-Butterfly and Cypher: These patterns indicate potential reversal zones and support the overall bearish sentiment.

• AB=CD: This pattern indicates potential reversal zones.

Potential Moves:

• Elliott Wave Theory:

• According to the Elliott wave theory, ETH might be in a corrective phase. We should monitor ETH’s movement towards the support and resistance zones.

• Price Projection:

• ETH may attempt to test the resistance level at $3,693.34 if it gains bullish momentum, but the overall downtrend indicates potential for further decline if it fails to break this resistance.

Important Note: Always remember the importance of capital management and avoiding greed.

ETH Analysis (ETHUSDT), 4-Hour Timeframe ⏰

Don’t forget to set a stop loss for any positions you plan to open.#ETHETFsApproved #Alert🔴 #coinanalysis #ETH🔥🔥🔥🔥 $ETH