ETHUSDT Short Opportunity :
Updated Targets and Analysis for Potential 192% Gain**
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In a revised analysis for **ETHUSDT**, a **5X short position** presents an updated strategic entry and more refined targets. The market remains under bearish pressure due to key technical factors :
- Market Overview : A major correction followed the March 2024 high, with an **August crash forming a bearish flag**. ETHUSDT's test of the **MA200** as resistance confirms a bearish sentiment.
- Price Movement : The advance from **October 2023 to March 2024** showed slow, steady growth with small candles. However, the past three days indicate a significant shift with large candles signaling a reversal, suggesting a move downward.
Entry Strategy :
- Leverage : 5X
- Entry Points : $3,250 and $2,800
Target Levels :
1. $2,755
2. $2,635
3. $2,530
4. $2,435
5. $2,295
6. $2,150
7. $1,955
8. $1,795
Stop-Loss : Weekly close above **$3,333**
Potential Profit : Up to **192%**
Capital Allocation : 3%
Conclusion & Advice :
ETHUSDT shows a strong bearish trend reinforced by recent technical signals. While this presents a substantial profit potential, traders should maintain risk management practices, such as placing a stop-loss and allocating only a portion of capital. Remember, this analysis is for educational purposes and not direct financial advice. Always conduct thorough research and trade responsibly.