$ETHUSDT | Global Support Level #1M📌 Current Situation:
The price is sitting at a strong HTF support zone.
Key Areas:
✅ Monthly Level: Multiple retests confirm its significance.
✅ GAP Zone: A liquidity gap that the market often fills.
Primary Scenario:
🔹 A breakdown to $1700 is possible, but if it occurs, it’s likely to be an HTF rebound with a monthly close above $2000.
🔹 A bounce from current levels without a deep test is also possible, given the strength of the support.
Key Levels:
🔹 $2000 – Potential bounce zone and a key level for the monthly close.
🔹 $1700 – The maximum liquidity sweep before a recovery.
📈 Takeaways:
⚡️ A great long-term buying opportunity – price is at support, downside risk is minimal, and the upside potential is significant.
⚡️ Critical Scenario: If the market breaks $1700 and consolidates below, a reassessment of strategy is needed.
💡 Conclusion:
There’s no confirmed reversal signal yet, but this zone could mark the bottom before a new bullish impulse. 🚀
