ETH at $2,437 with $829M daily volume — is this the correction before the next leg up? 🤔
Here's what I'm seeing: 2.5% drop today, RSI 4H at 37.6 (approaching oversold), daily RSI at 57.8 (still healthy). Volume is normal at $829M, so this doesn't look like panic selling.
Why This Trade?
4H chart shows clear downtrend — MACD at -4.94 with negative histogram. Price below SMA7 ($2,467) and SMA25 ($2,484). But daily structure remains bullish with SMA99 at $1,943 providing strong support. This feels like a routine pullback within an uptrend, not a trend change.
Trading Plan (SHORT-term):
🎯 Entry: $2,421 - $2,454 (current range)
🛑 Stop Loss: $2,504 (above SMA25 4H — if price reclaims this, bearish thesis is wrong)
✅ Take Profit: $2,348 (TP1) / $2,276 (TP2) / $2,179 (TP3)
Risk/Reward: 1.3R (decent for ETH)
Why short? Because 4H momentum is bearish and we're likely to see $2,350 before a bounce. But keep in mind: daily trend is still up, so this is a counter-trend scalp, not a swing trade.
Hot take: ETH at $2,400 feels like a gift if you believe in the long-term thesis. Are you buying here or waiting for $2,200? 👇
#ETH #Ethereum #DYOR
⚠️ Disclaimer: This is not financial advice. Crypto trading involves substantial risk. Always DYOR and never invest more than you can afford to lose.