ETH/USDT 1H: Testing $2,900 Support After Bearish Breakdown
Chart timeframe: 1H ETH/USDT analysis.
Current price: $2,996, down 0.79%.
Key levels:
Resistance: $3,130 (previous equilibrium).
Support: $2,900 (next major level).
Price action:
Significant bearish breakdown from the $3,300 level.
Multiple support levels broken, indicating strong selling pressure.
RSI analysis: Likely oversold on lower timeframes, suggesting potential for a short-term bounce.
Trend outlook: Overall bearish, with no clear reversal signals yet.
Setup rating: 3/10 – wait for stabilization and volume confirmation before considering entries.
What’s your plan for ETH – watching or trading this zone? 📉📈