Ethereum Eyes $2,725: Breakout or Fakeout?
The 4-hour chart for ETH/USDT shows a promising setup as Ethereum hovers around the $2,600 mark, forming a potential reversal pattern. The price recently tested the $2,536 support level and has since shown signs of a recovery.
The key resistance to watch is at $2,725. A successful break above this level could confirm a bullish continuation, potentially driving Ethereum towards the $2,800 mark. However, if the price fails to maintain momentum above $2,600, a retest of the $2,536 support level could be in play.
The shaded blue area on the chart represents a critical decision zone where bulls and bears will battle for control. A move above $2,725 could ignite further buying interest, while a failure could result in a pullback.
Traders should monitor this level closely, as it will determine the short-term direction for Ethereum.
The key resistance to watch is at $2,725. A successful break above this level could confirm a bullish continuation, potentially driving Ethereum towards the $2,800 mark. However, if the price fails to maintain momentum above $2,600, a retest of the $2,536 support level could be in play.
The shaded blue area on the chart represents a critical decision zone where bulls and bears will battle for control. A move above $2,725 could ignite further buying interest, while a failure could result in a pullback.
Traders should monitor this level closely, as it will determine the short-term direction for Ethereum.
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