$ETH
ETH is facing selling pressure after a significant October decline. The latest market data shows approximately $2,247, down around 1.9% over 24 hours. Technical analysis
Indicator / Level Price
Immediate resistance $2,294
Strong resistance $2,320โ$2,350
Major resistance $2,417
Immediate support $2,173
Strong support $2,100
Major support Market indicators
RSI: Around 33 โ bearish, approaching oversold territory.
Trend: Lower highs and lower lows.
Buying pressure: Not strong enough to confirm a reversal.
Market sentiment: Weak, with institutional ETF outflows adding pressure. Trading setups
SHORT setup
Entry: $2,290โ$2,320 after bearish rejection.
Stop loss: $2,355
Take profit:
TP1: $2,220
TP2: $2,173
TP3: $2,100
LONG setup
Entry: After a confirmed breakout above $2,320 and successful retest.
Stop loss: Below $2,270
Take profit:
TP1: $2,350
TP2: $2,417
TP3: $2,490My trading verdict
Below $2,173: downside risk increases.
Above $2,320: recovery potential improves.
Between $2,173 and $2,320: wait for confirmation rather than chasing the market.
My preference: I would wait for a rejection near resistance before considering a SHORT.#ETH๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ #BinanceReopensWithdrawalsForMoreAssets #Verify1to1BinanceReserves #YuanbiTechnologyAnnouncesUSDollarRDUSDPlan #BinanceReopensWithdrawalsForMoreAssets
ETH is facing selling pressure after a significant October decline. The latest market data shows approximately $2,247, down around 1.9% over 24 hours. Technical analysis
Indicator / Level Price
Immediate resistance $2,294
Strong resistance $2,320โ$2,350
Major resistance $2,417
Immediate support $2,173
Strong support $2,100
Major support Market indicators
RSI: Around 33 โ bearish, approaching oversold territory.
Trend: Lower highs and lower lows.
Buying pressure: Not strong enough to confirm a reversal.
Market sentiment: Weak, with institutional ETF outflows adding pressure. Trading setups
SHORT setup
Entry: $2,290โ$2,320 after bearish rejection.
Stop loss: $2,355
Take profit:
TP1: $2,220
TP2: $2,173
TP3: $2,100
LONG setup
Entry: After a confirmed breakout above $2,320 and successful retest.
Stop loss: Below $2,270
Take profit:
TP1: $2,350
TP2: $2,417
TP3: $2,490My trading verdict
Below $2,173: downside risk increases.
Above $2,320: recovery potential improves.
Between $2,173 and $2,320: wait for confirmation rather than chasing the market.
My preference: I would wait for a rejection near resistance before considering a SHORT.#ETH๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ #BinanceReopensWithdrawalsForMoreAssets #Verify1to1BinanceReserves #YuanbiTechnologyAnnouncesUSDollarRDUSDPlan #BinanceReopensWithdrawalsForMoreAssets