$ETH Trade Setup and analysis๐น
๐ Potential Short Trade (Rejection at Resistance)
ETH/USDT is consolidating near the middle of the range, with clear resistance and support zones defined by the upper and lower bands of the mean reversion channel. If ETH rejects the current level or breaks support, further downside could follow.
Short Setup (Bearish Scenario):
๐ Entry Zone: $3,100 - $3,110 (confirm rejection or breakdown)
๐ฏ Take-Profit (TP):TP1: $3,050TP2: $3,020TP3: $3,000 (lower boundary)
๐ Stop-Loss (SL): $3,120 (above the recent highs)
๐ Potential Long Trade (Bounce from Support)
If ETH finds support near the $3,090 area and reverses with confirmation (e.g., bullish candlestick or increased volume), a rally toward resistance could occur.
Long Setup (Bullish Scenario):
๐ Entry Zone: $3,090 - $3,095 (confirmation of support holding)
๐ฏ Take-Profit (TP):TP1: $3,120TP2: $3,160TP3: $3,200 (upper boundary)
๐ Stop-Loss (SL): $3,080 (below key support)
๐ Key Levels to Watch:
Resistance Levels: $3,120, $3,160, $3,237
Support Levels: $3,090, $3,050, $2,989
๐ก Recommendation: Monitor price action and volume at the current range boundaries. Enter trades only after confirming rejection or bounce at support/resistance levels. Avoid trading in the middle of the range to minimize risk.
