crypto #trading #shortsignal #bearish #technicalanalysis #binancesquare #cryptonews #altseason #defi

#ETH🔥🔥🔥🔥🔥🔥
Hey #BinanceSquareFam! Let's break down the charts for $ETH after its recent rejection from the all-time high. Is a -10% correction incoming? 📉
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📊 Current Snapshot:
· Current Price: $4,473.36
· 24h Change: -3.04%
· Key Resistance: $4,783 (ATH)
· Key Support: $3,700 - $3,800
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🔍 Technical Analysis Breakdown:
1. ⚠️ Classic ATH Rejection:
ETH pumped to a new ATH at $4,783 but FAILED to hold. This is a classic "blow-off top" pattern. When price can’t sustain new highs, it often leads to a sharp pullback.
2. 📈 Extreme Overbought Signals:
· RSI(6): 88.47 😲
· RSI(8): 85.07
· Stochastic K: 91.26
These are some of the most overbought readings in ETH’s history! This almost ALWAYS leads to a correction.
3. 📉 Momentum is Fading:
Despite the new ATH, the MACD histogram is weakening, and volume during the pump was NOT impressive. This is called a "bearish divergence" – price goes up, but momentum and volume do not. This is a HUGE red flag. 🚩
4. 💰 Market Sentiment Shift:
The funding rate has been high, and many traders are overly bullish. This often leads to a "long squeeze" where rapid selling triggers liquidations.
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🎯 Trade Setup (Short Idea):
· Entry Zone: $4,470 - $4,500
· Take Profit (TP): $3,700 - $3,800
· Stop Loss (SL): $4,800 (above ATH)
Why this works?
We’re betting on the pullback from an overbought peak. The risk/reward is excellent if we target the next major support zone.
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⚠️ Important Disclaimer:
This is a SHORT-TERM bearish play. The long-term trend for ETH is still BULLISH! 🐂
Only risk what you can afford to lose. ALWAYS use a stop loss!
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👉 Your Move:
What do you think? Is ETH heading to $3,700? Or will it bounce back quickly?
Drop your thoughts below! 👇
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