$ETH /USDT
TECHNICAL ANALYSIS:
TRADE SETUP
The 30-minute chart for Ethereum shows a clear rejection at the $3,150 resistance level, followed by a breakdown below the MA(7) and MA(25). The price is currently losing momentum as it approaches the lower support zones, indicating a shift in trend from bullish to bearish.
Entry Price: $3,116
Take Profit 1 (TP1): $3,060 (Previous consolidation area)
Take Profit 2 (TP2): $3,025 (Major psychological support)
Stop Loss (SL): $3,155 (Above the recent high and resistance)
SHORT OUTLOOK
The short-term market outlook for Ethereum suggests further downside pressure if the price fails to reclaim the $3,130 level. A continued drop below current levels would likely lead to a test of the MA(99) near $3,038. Increased selling volume on the recent red candles confirms that bears are gaining control of the immediate price action.
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