(Er Bing) $ETH My take
The hourly chart has climbed back above 2407, so the decline has paused for now. For a continued bounce, price first needs to chew through the trading range overhead. Only after a confirmed breakout and hold does it have a chance to test around 2524. If it can’t break through the range just yet, don’t rush; as long as 2407 holds, it can still hang in there. But if it also breaks below 2407, be cautious—it could plunge further.
For longs, consider a small position on the right side after a high-volume breakout above 2449, and exit if it falls back below 2449. Alternatively, you can go long if a retest around 2385 holds, but exit if 2357 breaks. If the hourly chart can hold above 2449, look first to 2499, then 2524.
For shorts, if 2433 breaks on high volume, you can try a right-side short; be sure to set your own stop-loss. Watch for shorting opportunities around 2499, and stop out if price pushes above 2534. If the 4-hour chart breaks below 2433, look first to 2385, then 2357.
For a left-side entry, you can go long if price wicks down around 2339; stop out if 2302 breaks.
Resistance levels above: 2449, 2499, 2534
Support levels below: 2433, 2385, 2357
The hourly chart has climbed back above 2407, so the decline has paused for now. For a continued bounce, price first needs to chew through the trading range overhead. Only after a confirmed breakout and hold does it have a chance to test around 2524. If it can’t break through the range just yet, don’t rush; as long as 2407 holds, it can still hang in there. But if it also breaks below 2407, be cautious—it could plunge further.
For longs, consider a small position on the right side after a high-volume breakout above 2449, and exit if it falls back below 2449. Alternatively, you can go long if a retest around 2385 holds, but exit if 2357 breaks. If the hourly chart can hold above 2449, look first to 2499, then 2524.
For shorts, if 2433 breaks on high volume, you can try a right-side short; be sure to set your own stop-loss. Watch for shorting opportunities around 2499, and stop out if price pushes above 2534. If the 4-hour chart breaks below 2433, look first to 2385, then 2357.
For a left-side entry, you can go long if price wicks down around 2339; stop out if 2302 breaks.
Resistance levels above: 2449, 2499, 2534
Support levels below: 2433, 2385, 2357