$ETH 4H Chart Update: Bulls are stepping in! 🐂📈
Ethereum is finally showing some strength after sweeping the Equal Lows (EQL). Price has bounced from the Discount zone and is now trading around $2,371. Here is the updated technical breakdown:
🟢 Market Structure (MS): We can clearly see a CHoCH (Change of Character) to the upside. This is a strong signal that the short-term bearish momentum might be shifting.
📉 Key Zones:
• Support: The $2,300 - $2,330 area held perfectly, acting as a strong demand zone.
• Resistance: Price is currently approaching the $2,400 - $2,440 supply zone. The moving average is also acting as immediate resistance here.
👀 What's next?
The price is reacting well to the bullish CHoCH. If we get a 4H candle close above $2,400, we could see a push toward the Equilibrium level at $2,520. However, a rejection here could send us back to retest the local support.
Are you long on $ETH right now? Let me know below! 👇
⚠️ Always manage your risk. This is not financial advice.
#ETH #Ethereum #CryptoAnalysis #TechnicalAnalysis
Ethereum is finally showing some strength after sweeping the Equal Lows (EQL). Price has bounced from the Discount zone and is now trading around $2,371. Here is the updated technical breakdown:
🟢 Market Structure (MS): We can clearly see a CHoCH (Change of Character) to the upside. This is a strong signal that the short-term bearish momentum might be shifting.
📉 Key Zones:
• Support: The $2,300 - $2,330 area held perfectly, acting as a strong demand zone.
• Resistance: Price is currently approaching the $2,400 - $2,440 supply zone. The moving average is also acting as immediate resistance here.
👀 What's next?
The price is reacting well to the bullish CHoCH. If we get a 4H candle close above $2,400, we could see a push toward the Equilibrium level at $2,520. However, a rejection here could send us back to retest the local support.
Are you long on $ETH right now? Let me know below! 👇
⚠️ Always manage your risk. This is not financial advice.
#ETH #Ethereum #CryptoAnalysis #TechnicalAnalysis
