$ETH 4H Update: Liquidity Swept! Is the bottom in? đ©žđđ
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.
đ Technical Breakdown:
âą Market Structure: The macro trend remains bearish after the CHoCH, but the long lower wick indicates strong buying pressure at the bottom.
âą Key Levels:
đŽ Resistance: $2,298 - $2,325 (Moving averages and local supply)
đą Current Support: $2,200 - $2,175 (Must hold to prevent a freefall)
âïž Equilibrium: $2,350 (Major target if bulls regain control)
đ 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.
đ 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? đŹđ
â ïž 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.
đ Technical Breakdown:
âą Market Structure: The macro trend remains bearish after the CHoCH, but the long lower wick indicates strong buying pressure at the bottom.
âą Key Levels:
đŽ Resistance: $2,298 - $2,325 (Moving averages and local supply)
đą Current Support: $2,200 - $2,175 (Must hold to prevent a freefall)
âïž Equilibrium: $2,350 (Major target if bulls regain control)
đ 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.
đ 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? đŹđ
â ïž Always manage your risk. This is not financial advice.
#ETH #Ethereum #CryptoAnalysis #TechnicalAnalysis #TradingSignal
