$ETH (Ethereum) Technical Analysis: Navigating a Local Correction 📉
Entry Zone: $2,280 – $2,300
Bullish Above: $2,410
Target 1 (TP1): $2,450
Target 2 (TP2): $2,500
Target 3 (TP3): $2,620+
Stop Loss (SL): $2,250
$ETH is currently undergoing a technical correction on the 4H chart, trading at $2,322.53 with a daily decrease of -3.60%. The price action shows a retracement from a recent 24h high of $2,410.00, finding immediate support near the 24h low of $2,321.62. The current candle structure indicates that while the broader trend remains influential, the market is presently testing the resolve of buyers at these mid-range levels.
The 24h trading volume for $ETH is substantial at 232,063.95 ETH, totaling approximately $547.00M USDT. This level of liquidity suggests that despite the short-term pullback, there is significant active participation in the market. For a renewed bullish push, ETH needs to reclaim and stabilize above the $2,400 psychological resistance to regain upward momentum.