ETHUSDT.P is currently in a key consolidation zone after a significant decline in recent months. The price remains within a trading range, with major players accumulating liquidity. The question is: will ETH break out or drop further?๐ Key Metrics:
โ Current Price: $2,682.81
โ Volume: 262.98K ETH โ moderate, but sellers remain active.
โ Key POC Level: $2,729.76 โ the highest volume area, where the market may decide its direction.
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๐ฅ Whatโs important right now?
๐
ETHUSDT.P is trading below the liquidity zone (POC: $2,729.76) โ sellers are still in control.๐ If the price fails to reclaim $2,729, the downtrend could accelerate.
๐ Upper range resistance โ $2,835-$2,872, breaking above which could restore bullish momentum.
๐ Lower support range โ $2,595-$2,522, dropping below this level will increase bearish pressure.
๐ฅ Key Scenarios for
ETHUSDT.Pโโโโโโโโโโโโโโโโโโ
๐ข Bullish Scenario: Reversal to the Upside
LONG #ETHUSDT from $2872.00 upon a confirmed breakout
๐ก Stop loss: $2835.00 (below the channel boundary)
โ Holding above $2,910 strengthens the chances of a continued uptrend.
โ If
ETHUSDT.P breaks above $2,872, further upside is likely towards:๐ TP 1: $2,893 โ the next resistance.
๐ฅ TP 2: $2,910 โ a key level where a pullback may occur.
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๐ด Bearish Scenario: Further Decline
If
ETHUSDT.P drops below $2,609, selling pressure may increase:SHORT #ETHUSDT from $2609.00 upon confirmed support breakdown.
๐ก Stop loss: $2638.00
โ If the price reaches $2,522, a short-term bounce may occur.
๐ TP 1: $2595.00 โ first support level.
๐ฅ TP 2: $2580.00 โ deeper liquidity level.
โก TP 3: $2570.00 โ potential bottom before a new impulse.
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A Critical Turning Point for
ETHUSDT.P !๐
ETHUSDT.P is in a zone of uncertainty, and a breakout in either direction may lead to a sharp move.๐ Buyers must reclaim $2,729, or sellers will likely push the price lower.
๐ A break above $2,872 opens the door for upside, while a drop below $2,609 confirms further correction.
๐ Prepare for a strong move!
ETHUSDT.P is on the verge of a breakout! ๐ฅ
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๐ฅSubscribe to our Telegram channel๐ฅ
๐ฅEvery day 1 FREE signal ๐ฅ
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Related publications
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.