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Ethereum / TetherUS

ETH/USDT 1H: Testing $2,900 Support After Bearish Breakdown

By BulldogNL

  1. Chart timeframe: 1H ETH/USDT analysis.
  2. Current price: $2,996, down 0.79%.
  3. Key levels:

  • Resistance: $3,130 (previous equilibrium).
  • Support: $2,900 (next major level).

  1. Price action:

  • Significant bearish breakdown from the $3,300 level.
  • Multiple support levels broken, indicating strong selling pressure.

  1. RSI analysis: Likely oversold on lower timeframes, suggesting potential for a short-term bounce.
  2. Trend outlook: Overall bearish, with no clear reversal signals yet.
  3. Setup rating: 3/10 – wait for stabilization and volume confirmation before considering entries.

What’s your plan for ETH – watching or trading this zone? 📉📈
Chart PatternsETHUSDTTechnical IndicatorsTrend Analysis
BulldogNL

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