📉 $ETH Sitting at a Critical Junction! Breakout or Breakdown?
Looking at the 15m ETH/USDT $ETH is showing clear signs of short-term bearish pressure and consolidation.
📊 The Setup:
Current Price: $1,673.02 (Down -0.26%).
The Trend: Price has been making lower highs after rejecting from $1,685.70. It recently swept the local liquidity down to $1,669.15 and is now struggling to bounce.
Moving Averages: Pure bearish alignment. The price is trading below MA(7) at $1,674.51 MA(25) at $1,675.96, and MA(99) at $1,678.82 All MAs are acting as heavy overhead resistance.
🟢 LONG: Wait for a clean break and candle close above the $1,676 - $1,679 zone (above MAs) to target a retest of $1,685+
🔴 SHORT: If the price rejects the current MA(7) resistance and loses the $1,669 local bottom, expect a quick flush down to major support levels.
⚠️ The volume is relatively flat right now, which means a big expansion move is building up. Keep an eye on the breakout direction!
👇 What's your play here? Are you buying the dip 🟢 or shorting the weakness 🔴?
#ETH #cryptotrading #TechnicalAnalysis #BinanceSquare #Ethereum
