ETH/USDT 1H: Oversold & Ready to Rebound – Bulls Eyeing $3,320! ETH/USDT 1H Chart Analysis
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Market Condition:
Price: $2,939, currently in a discount zone.
RSI: 26.4, indicating extreme oversold conditions.
Key SMC Levels:
Support: $2,880 (major discount zone).
Resistance: $3,120 (equilibrium).
Premium Zone: $3,320 - $3,400.
Trade Setup (Confidence 8/10):
Long Entry: $2,880 - $2,900 zone.
Targets:
T1: $3,120.
T2: $3,320.
Stop Loss: $2,840 (below discount).
Risk/Reward Ratio: 1:3.5 (favorable R:R).
Market Maker Analysis:
Distribution Phase Complete—now transitioning to accumulation.
Hidden Bullish Divergence Forming on RSI, signaling a potential reversal.
Expect a liquidity grab below $2,880 before price rebounds.
Smart Money likely accumulating at these levels.
Risk Score: 7/10
Wait for confirmation of support at discount zone before entering.
Declining volume suggests a potential reversal is forming.
Strong technical setup for longs once support is validated.
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