$ETH /USDT Technical Analysis: Strategy & Key Levels

The 4-hour chart for ETH/USDT shows a significant pullback to $3,606.99, with a daily drop of -2.63%. Here’s a breakdown of the support, resistance, and optimal trading strategy:

1. Key Support Levels:

Immediate support lies near $3,586.50, the 24-hour low.

Stronger support is around $3,252, as indicated by previous lows and proximity to the EMA(99).

2. Resistance Levels:

Immediate resistance is at $3,760, the recent high.

A break above $3,785.40 could confirm bullish momentum.

3. Entry Strategy:

Long Entry: Buy near $3,586 (support zone) with a target of $3,760 and a stop loss at $3,500.

Short Entry: Enter near $3,760 (resistance) if rejected, targeting $3,586 with a stop loss at $3,800.

4. Long-Term Strategy:

Entry: Accumulate at $3,252 for a target of $4,000, with a stop loss at $3,100.

5. Technical Indicators:

The EMA(7) is crossing below EMA(25), suggesting short-term bearishness.

The MACD shows bearish divergence, with the DIF below the DEA and a negative histogram.

Conclusion: Monitor the price action near the support and resistance levels. A break below $3,586 signals further downside, while a reclaim of $3,760 suggests bullish continuation. Use disciplined stop losses to mitigate risk.

Keep an eye on market volume and global trends for confirmation.

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