📊 ETH/USDT Technical Analysis: The $2,900 Battle
Ethereum is currently sitting at a critical crossroads. After failing to sustain a breakout above $3,400 due to a massive $4 billion supply wall, $ETH has corrected back into a high-interest liquidity zone.
Here is the breakdown of the current setup:
🔑 Critical Levels to Watch
Immediate Support: $2,834 – This is the line in the sand. A 4-hour candle close below this could trigger a sweep of the $2,787 wick low.
Major Resistance: $3,021 - $3,069 – ETH needs to reclaim the $3k psychological level to shift the 4H trend from bearish to neutral.
The "Wall": On-chain data shows a heavy concentration of holders at $3,490 - $3,510. Expect heavy selling pressure if we rally back to that range.
📉 Trading Strategy
Bearish Case: If $ETH loses $2,800, we may see a retest of the $2,650 demand zone. Short-term momentum remains heavy as whales rotate capital.
Bullish Case: A successful bounce from current levels ($2,910) with increasing volume could target a "relief rally" back toward $3,150.
RSI Insight: At 53.91, there is plenty of "fuel" left for a move in either direction. We are currently in a "wait for confirmation" zone.
💡 Pro Tip
Watch the $2,787 level closely. If price dips there and quickly recovers, it may be a "liquidity grab" before a reversal. However, caution is advised as whale activity is currently mixed.
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