Technical Analysis of ETHUSDT (4H Chart - OKX)
Technical Analysis of ETHUSDT (4H Chart - OKX)
Trend Analysis & Market Outlook
The chart indicates a strong downtrend, with price recently attempting a recovery from the lower support zone.
The 200 EMA (3,169.88 USDT) serves as a major resistance level.
Bearish Supply Zones are present at 3,408.28 USDT and above, limiting potential upside.
The 50 EMA is currently acting as support, which might indicate a short-term bullish trend.
Key Levels & Trading Strategy
Support Levels:
2,696.83 USDT
2,691.13 USDT
2,587.32 USDT (strong demand zone)
Resistance Levels:
2,739.64 USDT (short-term resistance)
2,938.10 USDT (mid-term target)
3,169.88 USDT (major breakout level)
Market Sentiment:
Bearish Bias Below 3,169.88 USDT
Bullish Confirmation Above 2,739.64 USDT with possible continuation to 2,938.10 USDT
Risk Management & Trade Setup
Bullish Scenario: If price holds above 2,700 USDT, it could test resistance at 2,739 - 2,938 USDT.
Bearish Scenario: A rejection at 2,739 USDT may lead to another drop toward 2,587 USDT.
Stop Loss (SL): Should be placed below 2,587 USDT to limit downside risk.
Final Conclusion
Short-term Outlook: Cautiously Bullish (as long as price stays above 2,700 USDT)
Long-term Trend: Bearish (unless price reclaims 3,169 USDT)
Best Strategy: Monitor price action at 2,739 USDT; breakout = bullish continuation, rejection = short opportunity.
Would you like an in-depth risk-reward analysis for a potential trade? 🚀
Trend Analysis & Market Outlook
The chart indicates a strong downtrend, with price recently attempting a recovery from the lower support zone.
The 200 EMA (3,169.88 USDT) serves as a major resistance level.
Bearish Supply Zones are present at 3,408.28 USDT and above, limiting potential upside.
The 50 EMA is currently acting as support, which might indicate a short-term bullish trend.
Key Levels & Trading Strategy
Support Levels:
2,696.83 USDT
2,691.13 USDT
2,587.32 USDT (strong demand zone)
Resistance Levels:
2,739.64 USDT (short-term resistance)
2,938.10 USDT (mid-term target)
3,169.88 USDT (major breakout level)
Market Sentiment:
Bearish Bias Below 3,169.88 USDT
Bullish Confirmation Above 2,739.64 USDT with possible continuation to 2,938.10 USDT
Risk Management & Trade Setup
Bullish Scenario: If price holds above 2,700 USDT, it could test resistance at 2,739 - 2,938 USDT.
Bearish Scenario: A rejection at 2,739 USDT may lead to another drop toward 2,587 USDT.
Stop Loss (SL): Should be placed below 2,587 USDT to limit downside risk.
Final Conclusion
Short-term Outlook: Cautiously Bullish (as long as price stays above 2,700 USDT)
Long-term Trend: Bearish (unless price reclaims 3,169 USDT)
Best Strategy: Monitor price action at 2,739 USDT; breakout = bullish continuation, rejection = short opportunity.
Would you like an in-depth risk-reward analysis for a potential trade? 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.