ETHUSDT is flashing warning signs on the 2-hour chart, with an entry zone between 4570-4780 near a critical resistance level that has capped recent rallies.This setup suggests a potential reversal, targeting a profit zone between 4145-4093 where strong support and the 200-day EMA converge. Set a stop loss at 4780 on a close above to protect against a false breakout, keeping risk tightly controlled. A break below 4550 with increasing volume could confirm the downward move, especially if Bitcoin leads the market lower.
Keep an eye on Ethereum network upgrades and overall crypto market sentiment, as these could act as key catalysts. This trade offers a strategic opportunity for those ready to navigate the volatility—share your insights below!
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Note
Trade was activated.Trade closed: stop reached
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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.