$ETH Daily Market Analysis: Watch Out for New Support Levels!
Our reference period is the daily K and 4H charts. The 3250 region, which was the first resistance level given before, dropped to 3215 yesterday. Looking at the 4H chart, the market is testing support for the second time. If it fails to find support at this level, the short-term bullish structure will break down and it will be possible for the price to return to support in the 2500 region.
In other words, if the 4H breaks below this level on the chart, it may make sense to open a short position. The stop-loss level should be applied when it moves back above the 4H support level, as this will indicate a false breakout made to kill short-term shorts positions and continue the rise. Pay attention to these levels and plan to trade at the right time.
