$ETH - ANALYSIS TODAY ‼️

On Lower Time Frame (LTF) , Let’s Analyze

Bullish Scenario

• Key Signs of Strength:

• The price rebounded from a low of $3,029.41 and rallied to a high of $3,546.66 before retracing.

• If the price manages to hold above $3,311.59, this may indicate bullish consolidation.

• A breakout above the recent high of $3,546.66 could trigger further upside momentum. Potential resistance above this level lies around $3,572.53.

• Conditions for Bullish Movement:

• Sustained buying pressure near support zones (e.g., $3,193.21).

• Higher highs and higher lows on lower timeframes.

• Volume increase on green candles, signaling accumulation.

2. Bearish Scenario

• Key Signs of Weakness:

• The price has retraced significantly from its peak at $3,546.66, indicating sellers are active.

• Failure to hold above $3,311.59 could lead to a retest of the lower supports.

• Conditions for Bearish Movement:

• A break below the strong support of $3,193.21 could result in further downside to the previous low of $3,029.41.

• Lower highs and lower lows signal weakening demand.

• Increase in red volume bars, signaling distribution by sellers.

3. Support and Resistance

• Supports:

• $3,193.21: A critical level where buying activity is likely to emerge.

• $3,029.41: The swing low and a strong demand zone.

• Resistances:

• $3,382.86: Immediate resistance where the price may face selling pressure.

• $3,546.66: The recent swing high, acting as a major resistance zone.

• $3,572.53: The next potential resistance beyond the recent high.

4. Supply and Demand

• Supply Zones (Potential Selling Pressure):

• $3,546.66 - $3,572.53: A key zone where sellers previously overwhelmed buyers.

• Demand Zones (Potential Buying Pressure):

• $3,193.21 - $3,311.59: This zone has historically shown support, suggesting strong buyer interest.

• $3,029.41: A significant demand level from where the price previously rallied.