$ETH Alert! Is this distribution or just a shakeout before the next leg up? 🚨
$ETH's 4H chart is currently retesting key Ichimoku Cloud support around $2,650 after pulling back from recent highs.
Alright team, let's break down this juicy $ETH chart on the 4H timeframe and see what's cooking!
Technical Analysis:
Ethereum is currently undergoing a healthy pullback, testing critical support right around the $2,630 - $2,650 region near the baseline of the Ichimoku Kumo Cloud. A strong hold here keeps the bullish structure intact. On the flip side, immediate resistance sits at the $2,700 - $2,725 zone (Tenkan-sen/Kijun-sen confluence), followed by the major swing high at $2,800.
Fundamental Analysis:
On the fundamental side, Ethereum continues to show massive network strength driven by growing Layer-2 adoption and steadily surging total value locked (TVL). Furthermore, institutional interest through spot ETH ETFs remains supportive, providing a solid long-term floor for the asset.
Action Plan:
I am watching for a clear confirmation of a bounce off the $2,650 support before expanding long positions toward the $2,800 target.
Highly recommend HOLD and Stacking $ETH at Binance
Feel free to comment the altcoin you are holding and we will check it for you!
ETH #Ethereum #TechnicalAnalysis #Crypto #BinanceSquare #Bitcoin
$ETH's 4H chart is currently retesting key Ichimoku Cloud support around $2,650 after pulling back from recent highs.
Alright team, let's break down this juicy $ETH chart on the 4H timeframe and see what's cooking!
Technical Analysis:
Ethereum is currently undergoing a healthy pullback, testing critical support right around the $2,630 - $2,650 region near the baseline of the Ichimoku Kumo Cloud. A strong hold here keeps the bullish structure intact. On the flip side, immediate resistance sits at the $2,700 - $2,725 zone (Tenkan-sen/Kijun-sen confluence), followed by the major swing high at $2,800.
Fundamental Analysis:
On the fundamental side, Ethereum continues to show massive network strength driven by growing Layer-2 adoption and steadily surging total value locked (TVL). Furthermore, institutional interest through spot ETH ETFs remains supportive, providing a solid long-term floor for the asset.
Action Plan:
I am watching for a clear confirmation of a bounce off the $2,650 support before expanding long positions toward the $2,800 target.
Highly recommend HOLD and Stacking $ETH at Binance
Feel free to comment the altcoin you are holding and we will check it for you!
ETH #Ethereum #TechnicalAnalysis #Crypto #BinanceSquare #Bitcoin
