ETH-USDT is currently in a consolidation phase after testing the $4,313 resistance level twice and failing to break through. The price action shows a series of higher lows indicating underlying bullish sentiment, but the double rejection at resistance suggests strong selling pressure at higher levels.
This presents a range-bound opportunity between $4,290 and $4,310. Consider entering long positions near the $4,292 support with tight stop losses below $4,285. For short positions, entries near the $4,310-4,313 resistance zone with stops above $4,320 could be considered.
Risk warning: The current consolidation pattern could break in either direction. Maintain proper risk management with stop losses, The overall market sentiment remains cautiously bullish but watch for a potential breakdown below $4,290 which could trigger further selling.
