ETH/USDT 4-Hour Chart Update : Testing Resistance Levels

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The ETH/USDT 4-hour chart shows Ethereum facing a critical resistance zone between $2,680 – $2,800 (blue-shaded area). After struggling to break through this level, ETH is currently testing it again.

A downward-sloping trendline (white) from previous highs has been broken, signalling a potential shift in momentum.

The support zone, ranging between $2,165 – $2,250 (brown-shaded area), is crucial. If Ethereum fails to break above the resistance, it may retrace towards this support level.

Additionally, Ethereum is trading slightly above its 200-period moving average (green line), which is acting as both resistance and support.

A downward arrow highlights the possibility of rejection from the resistance area, potentially leading to a drop back to the support zone.

Conclusion :

Ethereum's price movement is in a critical phase, testing major resistance. A successful breakout could signal bullish momentum, while failure could lead to a retracement to support.

Advice for Traders and Investors :

- Watch the resistance zone closely for a breakout or rejection.

- Consider potential buying opportunities near the $2,165 – $2,250 support range.

- Utilize stop losses and manage risk when trading in volatile zones.