ETHEREUM VS US DOLLAR – Trend Break or Continuation?
🧠 Market Structure & Context
This chart clearly demonstrates three distinct phases of price action:
1. Accumulation Phase (~$2,170–$2,280):
A period of sideways consolidation with relatively low volatility.
Price traded in a tight range, building up liquidity.
2. Breakout & Trend Reversal (~$2,280–$2,680):
A clean breakout led to a rapid rally toward the $2,680 supply zone.
The rejection from this level formed the recent swing high, followed by a series of lower highs.
3. Bearish Breakdown & Current Phase (~$2,680–$2,195):
Price broke key support and initiated a strong downward trend, confirmed by the descending trendline and consistent lower lows.
A recent bounce from the $2,160–$2,195 support zone is underway, testing prior resistance.
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🔍 Key Technical Features
Trendline Resistance: Price is testing a descending resistance line that has capped all recent bounce attempts. A breakout here could trigger a short-term trend reversal.
Rejection Zone (~$2,280–$2,300): Strong horizontal resistance coupled with the trendline. Watch this confluence zone for a reaction — it’s crucial for bulls to reclaim.
Demand Zone Highlighted (~$2,160–$2,195): This level has provided support multiple times and forms the current key structure floor. A clean break below could invite a larger correction.
Potential Reversal Pattern: The blue curved arrow suggests an inverse head and shoulders or rounded bottom formation in development — signaling possible bullish intent.
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🔮 Scenario Forecast
1. Bullish Case (if price breaks above $2,280–$2,300):
Target 1: $2,360 (minor resistance)
Target 2: $2,440–$2,480 (previous supply zone)
Confirmation would come from a close above the trendline + horizontal resistance
2. Bearish Case (rejection from $2,280–$2,300 zone):
Price likely retests $2,195
A break below this support opens downside toward $2,100 and $2,050
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🛠 Unique Insights
The use of Ichimoku Cloud adds confluence to resistance zones.
The highlighted zones of supply and demand are well-placed and visually clean.
🧠 Market Structure & Context
This chart clearly demonstrates three distinct phases of price action:
1. Accumulation Phase (~$2,170–$2,280):
A period of sideways consolidation with relatively low volatility.
Price traded in a tight range, building up liquidity.
2. Breakout & Trend Reversal (~$2,280–$2,680):
A clean breakout led to a rapid rally toward the $2,680 supply zone.
The rejection from this level formed the recent swing high, followed by a series of lower highs.
3. Bearish Breakdown & Current Phase (~$2,680–$2,195):
Price broke key support and initiated a strong downward trend, confirmed by the descending trendline and consistent lower lows.
A recent bounce from the $2,160–$2,195 support zone is underway, testing prior resistance.
---
🔍 Key Technical Features
Trendline Resistance: Price is testing a descending resistance line that has capped all recent bounce attempts. A breakout here could trigger a short-term trend reversal.
Rejection Zone (~$2,280–$2,300): Strong horizontal resistance coupled with the trendline. Watch this confluence zone for a reaction — it’s crucial for bulls to reclaim.
Demand Zone Highlighted (~$2,160–$2,195): This level has provided support multiple times and forms the current key structure floor. A clean break below could invite a larger correction.
Potential Reversal Pattern: The blue curved arrow suggests an inverse head and shoulders or rounded bottom formation in development — signaling possible bullish intent.
---
🔮 Scenario Forecast
1. Bullish Case (if price breaks above $2,280–$2,300):
Target 1: $2,360 (minor resistance)
Target 2: $2,440–$2,480 (previous supply zone)
Confirmation would come from a close above the trendline + horizontal resistance
2. Bearish Case (rejection from $2,280–$2,300 zone):
Price likely retests $2,195
A break below this support opens downside toward $2,100 and $2,050
---
🛠 Unique Insights
The use of Ichimoku Cloud adds confluence to resistance zones.
The highlighted zones of supply and demand are well-placed and visually clean.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
FREE FREE JOIN TELEGRAM FREE
🔗t.me/+ua3k8HySt11hNmU0
☑️ALL PAIRS SIGNALS
☑️XAUUSD AND CRYPTO SIGNALS
☑️DAILY 3-4 SIGNALS PROVIDE
🔗t.me/+ua3k8HySt11hNmU0
☑️ALL PAIRS SIGNALS
☑️XAUUSD AND CRYPTO SIGNALS
☑️DAILY 3-4 SIGNALS PROVIDE
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.