ETH/USDT Chart Update:
ETH/USDT Chart Update:
Ethereum is trading within a descending triangle on smaller timeframes, a structure often associated with bearish continuation. However, it could also signal accumulation if support holds.
Immediate support lies between $3,100 – $3,050, where buyers are attempting to prevent further declines.
Near-term resistance aligns at $3,200, followed by the upper boundary of the descending triangle near $3,300.
A breakout above $3,300 could trigger a rally towards $3,400 – $3,500, which would invalidate the bearish structure.
A break below the $3,050 level could see ETH retesting the psychological level of $3,000 or deeper support zones.
Volume and momentum indicators should be monitored closely to confirm any breakout or breakdown. Low-volume breakouts may lack sustainability.
Wait for a decisive move beyond the triangle pattern before entering. Bullish bias above $3,300; bearish continuation below $3,050.
This update shows the short-term dynamics and important levels for ETH/USDT in the upcoming sessions.
Let me know if you’d like further assistance or adjustments!
DYOR. NFA
Ethereum is trading within a descending triangle on smaller timeframes, a structure often associated with bearish continuation. However, it could also signal accumulation if support holds.
Immediate support lies between $3,100 – $3,050, where buyers are attempting to prevent further declines.
Near-term resistance aligns at $3,200, followed by the upper boundary of the descending triangle near $3,300.
A breakout above $3,300 could trigger a rally towards $3,400 – $3,500, which would invalidate the bearish structure.
A break below the $3,050 level could see ETH retesting the psychological level of $3,000 or deeper support zones.
Volume and momentum indicators should be monitored closely to confirm any breakout or breakdown. Low-volume breakouts may lack sustainability.
Wait for a decisive move beyond the triangle pattern before entering. Bullish bias above $3,300; bearish continuation below $3,050.
This update shows the short-term dynamics and important levels for ETH/USDT in the upcoming sessions.
Let me know if you’d like further assistance or adjustments!
DYOR. NFA
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.