$ETH 4H Update: Liquidity Swept! Is the bottom in? 🩸🔄📈
Ethereum just gave us a classic Smart Money move. The price aggressively dumped, sweeping the Equal Lows (EQL) near $2,175, and immediately bounced back. We are currently trading around $2,252, trying to build a local base in the deep Discount zone.
🔍 Technical Breakdown:
• Market Structure: The macro trend remains bearish after the CHoCH, but the long lower wick indicates strong buying pressure at the bottom.
• Key Levels:
🔴 Resistance: $2,298 - $2,325 (Moving averages and local supply)
🟢 Current Support: $2,200 - $2,175 (Must hold to prevent a freefall)
⚖️ Equilibrium: $2,350 (Major target if bulls regain control)
👀 What's next?
The price is heavily oversold. We might see a relief bounce toward the $2,298 resistance level. If bears reject the price there, we could see another leg down. But if bulls break above $2,325, the momentum will shift.
👇 QUESTION FOR THE COMMUNITY:
Was that wick the actual bottom, or just a liquidity grab before more downside? Are you longing this dip or shorting the bounce? 💬👇
⚠️ Always manage your risk. This is not financial advice.
#ETH #Ethereum #CryptoAnalysis #TechnicalAnalysis #TradingSignal
Ethereum just gave us a classic Smart Money move. The price aggressively dumped, sweeping the Equal Lows (EQL) near $2,175, and immediately bounced back. We are currently trading around $2,252, trying to build a local base in the deep Discount zone.
🔍 Technical Breakdown:
• Market Structure: The macro trend remains bearish after the CHoCH, but the long lower wick indicates strong buying pressure at the bottom.
• Key Levels:
🔴 Resistance: $2,298 - $2,325 (Moving averages and local supply)
🟢 Current Support: $2,200 - $2,175 (Must hold to prevent a freefall)
⚖️ Equilibrium: $2,350 (Major target if bulls regain control)
👀 What's next?
The price is heavily oversold. We might see a relief bounce toward the $2,298 resistance level. If bears reject the price there, we could see another leg down. But if bulls break above $2,325, the momentum will shift.
👇 QUESTION FOR THE COMMUNITY:
Was that wick the actual bottom, or just a liquidity grab before more downside? Are you longing this dip or shorting the bounce? 💬👇
⚠️ Always manage your risk. This is not financial advice.
#ETH #Ethereum #CryptoAnalysis #TechnicalAnalysis #TradingSignal
