$ETH ETH Faces a Major Test ! Breakout or Breakdown? For Now use SL your Altcoins Long Her's Why 😶‍🌫️

This ETH analysis based on the 4-hour chart.

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We're seeing some significant movements as ETH approaches critical levels. The price is currently trading near the strong support around 2,650 after sweeping liquidity at the recent lows. This area is crucial as it holds a massive 305 million in liquidations, making it a key level to watch for potential reactions.

Two scenarios could play out from here:

🟢 Scenario A: If ETH finds support here and then bounces, we could see a push back up towards the 2,772 - 2,804 resistance area previous consolidate area. also above this zone aligns with a previous 4-hour Bearish Fair Value Gap (FVG) and holds 252 million in liquidations. A break above this resistance could trigger further bullish momentum, potentially targeting the next major resistance around $2,877 - $2,950.

🔴 Scenario B: On the other hand, if ETH fails to hold above this strong support, we might see a deeper pullback towards the 2,512 - 2,483 region. A move below this could indicate a more bearish outlook, with further downside potential.

😐 In either scenario, keep a close eye on the price action around these key levels. They will likely dictate ETH’s next major move. also use Stoploss for your long trades avoid liquidation.

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