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$ETH /USDT: Is the Bottom In or Just a Pit Stop?
Ethereum (ETH) has been on a wild ride this January.
After a sharp decline from the $3,392 levels, the price seems to be searching for a floor.
Here is a breakdown of what the 4H chart is telling us right now:
🔍 Technical Breakdown:
* Current Support: We saw a sharp bounce off the $2,787 level.
This is currently our "line in the sand" for bulls.
* Resistance Zone: The immediate hurdle is the $2,950 - $3,000 psychological barrier.
Until ETH flips $3k back into support, the bears remain in control of the medium-term trend.
* Price Action: The 4H candles show a series of "dojis" and small bodies, indicating a tug-of-war between buyers and sellers.
We are seeing a slight recovery (up +0.19% in the screenshot), but volume remains relatively thin.
💡 Trading Sentiment:
While the macro outlook remains bullish with institutional interest from players like BlackRock, the short-term technicals suggest a "Wait and See" approach.
* Bullish Scenario: A decisive break above $3,023 could spark a rally back toward the $3,150 area.
* Bearish Scenario: If ETH loses the $2,875 local support, we might revisit the $2,787 lows or even lower.
Strategy: Look for a high-volume breakout or a successful retest of the $2,800 zone before entering new long positions.
Stay disciplined with your stop-losses! 🛡️
What’s your move? Are you Accumulating or Waiting for $2,500? 👇
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