$ETH TODAY LATEST ANALYSIS !! A HUGE BREAKDOWN😳😳A short entry for you// follow me for more analysis

BreakdownCurrent Price: Approximately $2,224.

Resistance: The upper horizontal purple line around $2,260 marks a strong resistance level where the price was previously rejected (as indicated by the red arrows).

Support: The lower horizontal purple line around $2,180, near the projected TP, marks the immediate support zone.Key Insights

Bearish Rejection: After testing the resistance around $2,260, ETH has shown a clear rejection, indicating bearish sentiment in the market. This could lead to a continuation of the downtrend.

Short Trade Setup: The pattern suggests a potential short opportunity. If ETH continues to decline, traders could consider entering a short trade:

Entry: Below $2,225, with confirmation that the price is continuing downward.Stop Loss: Placed above the resistance at $2,260 to limit risks in case of reversal.

Take-Profit (TP) Zone: The likely target for a downward move is near the support at $2,180, as indicated by the "TP" mark on the chart. This is where the price may bounce or consolidate before the next move.

Risk Management: Ensure proper risk management, as price reversals can occur near key levels. Set a stop-loss near $2,260 to manage potential losses.

Trade Setup Summary

Short Trade:Entry: Below $2,225.Stop Loss: Above $2,260.Target (TP): Around $2,180.

This strategy anticipates further bearish movement, capitalizing on the rejection from the resistance zone. Be cautious of any price bounces near support or sudden reversals.

#TON #DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #LowestCPI2021