đ Trading Priorities:
âą Direction: Short, watching for continued pressure on 2243.90 and a subsequent breakdown
âą Goal: 2198
âą Cancel: Price moving above 2294
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Resistance levels: Volume-profile resistance around 2285, 2387.90
Support levels: 2243.90, 2198
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ETHâs recovery has stalled after a rejection from the 2300â2320 area. Price has fallen back below the volume profileâs main concentration around 2285 and is consolidating close to 2243.90 support. Buyers are still defending that floor, but their recent attempts have produced limited upside follow-through. This keeps my priority on potential selling opportunities.
Iâm watching whether ETH continues trading near 2243.90 without developing a stronger rebound. A breakdown would strengthen the case for another move toward 2198, the next significant support marked on the chart. A brief bounce could come first, as illustrated. A recovery above 2294 would cancel this short plan.
The fundamental backdrop adds caution. Reports of fresh, limited US strikes on Iranian targets show that escalation risk persists despite ongoing diplomatic efforts. Further disruption around the Strait of Hormuz could lift energy-related inflation concerns and weaken appetite for risk assets. Meanwhile, the Fed held rates at 3.75â4%, with two officials favouring another increase. These remain potential headwinds for ETH, although progress in negotiations could improve sentiment. My trading trigger remains the behaviour at support.
â This setup is for educational purposes and outlines a potential trading plan. A trade may follow if the conditions develop. This is not financial advice. Trading carries risk, so please protect your capital and manage your own risk!
