$ETH Hello Binance Square Family!
Ethereum continues its downward momentum, trading well below early 2024 highs and showing no signs of trend reversal — yet. Smart money structure shifts, Fibonacci levels, and key zones are shaping the short-term outlook.
Let’s break it all down:
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📉 General Trend: Bearish with Momentum
ETH has been in a clear downtrend since peaking at $4,042.
Multiple Breaks of Structure (BOS) and Changes of Character (CHoCH) confirm bearish dominance.
Recent BOS below weak lows signals further downside pressure.
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🔍 Key Levels to Watch: Support & Resistance
🔵 Support:
$1,592 – Critical low and 0% Fib level. A breakdown could open the door to $1,300–$1,000.
$1,720–$1,760 – Minor zone, watch for bounce or breakdown.
$1,300–$1,400 – Strong historical demand block.
🔴 Resistance:
$2,170 – 23.6% Fibonacci retracement
$2,400 – Bearish Order Block + key resistance
$2,817 – 50% Fibonacci
$3,512 – 78.6% Fibonacci
$4,042 – Previous high (trend peak)
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🎯 Short-Term Outlook (Next 1–2 Days)
Downside Bias: Price likely tests the $1,720–$1,750 region
Upside Cap: Rejection likely around $2,000–$2,050
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📉 Bearish Setup (Short Trade Idea):
Entry: $2,000–$2,050 (resistance block + bearish trigger)
Take Profit: $1,750–$1,720
Stop Loss: Above $2,100
RRR: ≈ 1:2.5
Trigger: Bearish Engulfing or Shooting Star with volume confirmation
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📈 Bullish Setup (Long Trade Idea):
Entry: $1,600–$1,620 (support bounce with confirmation)
Take Profit: $1,950–$2,000
Stop Loss: Below $1,580
RRR: ≈ 1:2
Trigger: Bullish Hammer + rising volume
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🔻 Bearish Scenario: Worst-Case Dip
If $1,592 fails, prepare for a potential drop to the $1,300–$1,400 zone, with $1,000 on the radar in a macro bearish case.
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🔁 Reversal Watch: Key Signals
$1,592: Watch for bullish price action — this is a high-probability reversal zone.
Break above $2,200: Would invalidate the current bearish bias and shift control.
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🧠 Pro Tip: ETH vs BTC Relative Strength
ETH is currently underperforming compared to BTC.
Analyzing ETH/BTC could provide insights — might be a better time to hold BTC over ETH for strength exposure.
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Final Thoughts: Respect the Trend Until It Breaks
> “Structure is everything — don’t fight the trend unless you have confirmation.”
Be strategic, respect your plan, and let the market come to you.
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Need this charted out with EMAs, RSI, or Smart Money overlays? Just ask!
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