🧠From a structural perspective, we are within the daily pullback target zone (green box), therefore a daily rebound is expected. However, a daily reversal structure has not yet formed in this area, so we will likely enter a sideways consolidation phase in the next few days.
➡️We are currently approaching the gray resistance zone (2023-2133) and support/resistance lines, so chasing the price upwards here is not recommended!
I think the resistance around 2400 will be difficult to reach in the short term.
➡️Strong support is around 1788.
Let's see 👀
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Unfortunately, the highest price of the rebound was $25 lower than our TP1 price, resulting in a significant profit retracement. Furthermore, the cost price wasn't advantageous, so we're closing the position to lock in profits.
Only a breakout above the downtrend line will trigger a surge, but I'm more inclined to enter after another pullback. Key support levels to watch are around 2200 and 2160.
Extreme support levels remain around 2088 and 2100. #Wolf_king88 $ETH {future}(ETHUSDT)
🧠From a structural perspective, the 4-hour downtrend target has been achieved, therefore a 4-hour rebound is expected. So, be cautiously bearish. We can look for support levels to enter long positions. The nearest support is around 2200, and the extreme support is a quick recovery after breaking the turning point at 2111 (around 2088).
➡️ETH's rebound strength is not as strong as BTC's, so the nearest resistance remains around 2400, the further resistance is around 2600, and the extreme resistance is around 2800.
Let's see 👀
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