Current Price: $2,451.3
Resistance Zone: $2,559 – $2,674
Support Zone: Around $1,710
Market Bias: Bearish
---
📌 Overview:
Ethereum is currently testing a major resistance zone between $2,559 and $2,674. This zone has historically acted as strong rejection, indicating potential seller dominance in this area. Multiple failed attempts to break above this level suggest a possible short opportunity.
---
📉 Trade Setup:
Short Entry: Near current price or on confirmation below $2,444
Stop Loss: Above $2,674 (above resistance zone)
Take Profit 1: $2,240.7 – Minor support level
Take Profit 2: $1,973.2 – Medium-term target
Final Target: $1,710.5 – Strong support zone and potential bottom
---
🧠 Technical Notes:
Price has formed a consolidation range just under resistance.
Strong bearish engulfing pattern seen on lower timeframes.
Breakdown from the highlighted zone could trigger a sharp move downward.
Risk-to-reward ratio favors short position if price fails to reclaim above resistance.
---
🚨 Risk Management:
Only enter with confirmation (e.g., 4H candle close below $2,440). Adjust position size based on your risk tolerance. Monitor for any invalidation signs such as strong bullish breakout above $2,674.
Resistance Zone: $2,559 – $2,674
Support Zone: Around $1,710
Market Bias: Bearish
---
📌 Overview:
Ethereum is currently testing a major resistance zone between $2,559 and $2,674. This zone has historically acted as strong rejection, indicating potential seller dominance in this area. Multiple failed attempts to break above this level suggest a possible short opportunity.
---
📉 Trade Setup:
Short Entry: Near current price or on confirmation below $2,444
Stop Loss: Above $2,674 (above resistance zone)
Take Profit 1: $2,240.7 – Minor support level
Take Profit 2: $1,973.2 – Medium-term target
Final Target: $1,710.5 – Strong support zone and potential bottom
---
🧠 Technical Notes:
Price has formed a consolidation range just under resistance.
Strong bearish engulfing pattern seen on lower timeframes.
Breakdown from the highlighted zone could trigger a sharp move downward.
Risk-to-reward ratio favors short position if price fails to reclaim above resistance.
---
🚨 Risk Management:
Only enter with confirmation (e.g., 4H candle close below $2,440). Adjust position size based on your risk tolerance. Monitor for any invalidation signs such as strong bullish breakout above $2,674.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.