ETH USDT (Binance)
Yesterday, the ETH price retested the local resistance zone (marked green zone), but the price didn't manage to break it out. The current ETH price is retesting this level again, but I think the price will reject it because there is no volume. From a technical point of view, the price retested POC overnight (with a wick candle). If we see strong rejection, it is possible to retest this level again.
The volume profile is looking good. There is one volume gap between 1235-1255. Also, there is another very small volume gap at the current price: 1265-1280 (very small). POC is sitting at 1263 (it was at 1271).
The plan for today: I will wait for more price action around a current price level. If the price breaks it out (local resistance zone) and retests it=>long; If the price closes below it and rejects it=> it is short. Another good level to watch for price action is POC (red line). It is reacting as support right now. If the price touches it (retest) and bounces from it=>long; If the price closes below it and rejects it=>short (less likely).
