$ETH /USDT Analysis 🛠️📉
Here’s an updated view on ETH/USDT:
Sideways Market 🌀
ETH/USDT has been trading in a sideways range over the past few days on the 1-hour timeframe. The price has been oscillating between minor support and resistance, making it a range-bound market.
Current Level 🔴
The price is currently near the minor support level. Watch for potential bounces or breakdowns.
Safe Trading Approach ⚖️
Wait for Confirmation: If you're looking for a safer trade, wait for the price to either break above the resistance or retest the support level before making an entry.
Range-Bound Strategy: In this type of market, consider buying near support and selling near resistance for short-term moves.
ETH Daily Zones 📅
As mentioned in my previous analysis, ETH has important daily zones that should be watched for broader market direction. Keep these in mind for potential larger trend movements.
Trading Tip ⚡
Be Patient: Sideways markets can be tricky. Wait for clear breakout or breakdown confirmations.
Manage Risk: Always use stop-loss orders to protect against false breakouts or unexpected price swings.
Avoid Over-Leveraging: In range-bound markets, price can often reverse unexpectedly, so trade with caution.
Keep an eye on the market and plan your moves accordingly! 📊 Trade wisely and stay disciplined.
