$ETH is approaching a critical zone โ traders must stay alert as market makers could shake things up.
๐ Earlier Sell-Off: ETH slid down to 4518 around 6 PM.
๐ Fast Recovery: Price climbed back near 4640, but donโt mistake this for a confirmed bullish trend.
๐ Quick rebounds like this are often bull traps, set up to mislead retail participants.
๐ What to Watch For:
If ETH surges toward 4800, it could erase the earlier drop. But usually, big players trigger false breakouts and whipsaws to confuse the crowd.
๐ Important Price Levels
๐ผ Resistance: 4800 โ Needs a strong close above to open further upside.
๐ฝ Support: 4500 โ A breakdown below could accelerate losses.
โ๏ธ Pivot Zone: 4650 โ Holding above = possible bounce, falling under = bearish bias.
๐ฏ Trading Playbook
๐ฅ Aggressive Setup: Consider light shorts around 4640, SL: 4680, TP: 4500.
๐ Safer Approach: Wait for US market session. If ETH stays above 4650 (1H chart), a short-term long may work. Otherwise, shorts remain the favorable strategy.
โ Risk Notes
Donโt over-leverage.
Avoid holding overnight without a clear plan.
Remember: The market itself is never wrong โ only the strategy can be.
๐ $ETH โ 4,443.82
(-7.02%)
#Ethereum #Crypto
