🚨 $ETH /USDT ALERT: Critical Levels in Focus on the 1-Hour Chart 🚨
Overview: ETH has faced a notable decline, with current downward momentum bringing it to a significant support zone. The price has dropped by 5.94% in the last 24 hours, suggesting pressure from sellers. Traders should be cautious as the market approaches potential reversal points, with volatility expected to increase around these levels.
Current Price: 3,166.08
Entry Price for Long Trades: 3,180 (upon stabilization or bullish reversal signals)
Key Levels to Watch:
Resistance:
Level 1: 3,211.88 – Initial barrier to overcome for a shift in momentum.
Level 2: 3,335.63 – Break above this could signal stronger bullish interest.
Level 3: 3,442.50 – Major resistance level; surpassing this may lead to further gains.
Support:
Level 1: 3,088.12 – Immediate support; a drop below may indicate further downside.
Level 2: 3,105.00 – Strong support; crucial for maintaining upward structure.
Take-Profit Targets:
TP1: 3,211.88
TP2: 3,335.63
TP3: 3,442.50
Stop Loss: 3,088.00 – Set below the immediate support to manage risk in case of a bearish continuation.
Cautionary Note: Traders should monitor price action closely as ETH tests these key levels. A clear breakout above resistance could signal a shift in trend, while a drop below support might trigger further declines.
