Ethereum / USDTShort
ETH/USDT 1H: Bears Eyeing $3120 as Momentum Fades!
ETH/USDT 1H Chart Analysis
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Current Price: $3220
Market Analysis:
Key Levels:
Trade Setup (Confidence Level: 8/10):
Market Maker Activity:
Recommendation:
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Current Price: $3220
Market Analysis:
- Bearish momentum after rejection at $3300 resistance.
- Hidden bearish divergence on RSI, signaling potential continuation to the downside.
Key Levels:
- Resistance: $3300-$3320
- Support: $3180-$3200
- Critical Demand Zone: $3120-$3140
Trade Setup (Confidence Level: 8/10):
- Entry Zone: $3240-$3260
- Targets:
- T1: $3180
- T2: $3120
- Stop Loss: Above $3305 (recent swing high).
Market Maker Activity:
- Distribution phase visible at higher levels ($3300-$3320).
- Potential liquidity sweep below $3180 support.
- Accumulation expected near $3120 demand zone.
Recommendation:
- Short positions recommended in the $3240-$3260 zone.
- Monitor for volume confirmation near entry and support levels.
- Risk management is key due to volatile market conditions.
- Confidence Level: 8/10 for bearish continuation.
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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.