ETH TREND


Ethereum (ETH) is showing strong signs of a pullback after its recent rejection from the all-time high. Let's break down the charts:

- Current Price: $4,473.36
- 24h Change: -3.04%
- Key Resistance: $4,783 (ATH)
- Key Support: $3,700 - $3,800

Technical Analysis Breakdown.
1. Classic ATH Rejection: ETH's failure to hold its new ATH at $4,783 indicates a potential sharp pullback.
2. Extreme Overbought Signals: RSI(6) at 88.47, RSI(8) at 85.07, and Stochastic K at 91.26 suggest a correction is likely.
3. Momentum is Fading: Weakening MACD histogram and unimpressive volume during the pump indicate bearish divergence.
4. Market Sentiment Shift: High funding rates and overly bullish sentiment may lead to a "long squeeze" with rapid selling triggering liquidations.
Trade Setup (Short Idea)- Entry Zone: $4,470 - $4,500
- Take Profit (TP): $3,700 - $3,800
- Stop Loss (SL): $4,800 (above ATH)

This short-term bearish play targets the next major support zone, with a potential risk/reward ratio of 1:6. However, the long-term trend for ETH remains bullish. Keep in mind that predictions are uncertain, and it's essential to manage risk and use stop-loss orders.

What do you think? Will ETH head to $3,700 or bounce back quickly?
Click here 👉$ETH to buy now!

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ETH-2.91%
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