$ETH
ETHUSDT — Testing Critical Support at Major Trendline
ETHUSDT is trading near $2,895, testing the crucial $2,880 - $2,920 support zone after rejecting from the $3,000 resistance. This level aligns with a major ascending trendline and has acted as strong support multiple times in recent weeks. A hold here is critical for maintaining the bullish structure.
Trade Plan
Entry (Long): $2,880 - $2,910 (Accumulate at the trendline and horizontal support confluence)
Target 1: $2,980 (Immediate resistance and recent high)
Target 2: $3,050 - $3,100 (Breakout target above $3,000 resistance)
Stop Loss: $2,850 (Break below the trendline and key support)
My View
ETHUSDT is at a make-or-break level. The confluence of the ascending trendline and horizontal support around $2,880 provides a high-probability long setup for a bounce back toward $3,000+. A decisive break below $2,850 would signal a failure of the bullish structure and likely lead to a deeper correction. Risk is well-defined.
