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Ethereum / UST

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ETH/USDT: Navigating Consolidation and SEC's BTC ETF Verdict 📈💎 Paradisers, let's dive into ETH/USDT. The asset is forming a rising wedge pattern, and currently, it's in a consolidation phase while we await the SEC's decision on the spot BTC ETF. If the SEC leans towards disapproval and the price falls below the 1757 threshold – which serves as both the lower boundary of the rising wedge and a significant demand zone – we might witness a decline towards 1642, and potentially even 1478. 💎 In case panic selling takes over the ETH market, there could be further drops ahead, potentially reaching as low as 1368 and 1171. However, if the SEC approves the spot BTC ETF, it could be a good idea to focus our bullish efforts on BTC rather than ETH. Stay attentive and make well-informed decisions, ParadiseSquad! 🚀
Short
by MyCryptoParadise_Nathan
ETH/USDT: Analyzing Price Trends and Key Levels Introduction: In this technical analysis, we will delve into the ETH/USDT trading pair and explore crucial levels and patterns that can assist traders in making informed decisions. We will focus on the selling area at 1920 and 1940, anticipate a potential correction towards 1800, and analyze the significance of an inside bar formation within the selling area. 1. Selling Area at 1920 and 1940: ETH/USDT has encountered strong resistance at the price levels of 1920 and 1940. These levels have proven to be significant barriers in the recent price action, suggesting a higher probability of a downward price movement. We observe the formation of an inside bar within the selling area of 1920 and 1940. This formation reinforces the notion of a potential price reversal, as it indicates a period of consolidation and indecision among market participants 2. Expected Price Correction towards 1800: Considering the strong resistance mentioned above, we anticipate a price correction in the ETH/USDT pair. In this case, we expect the price to retreat towards the support level around 1800. This level has historically demonstrated a strong buying interest, making it a potential target for long positions or profit-taking for short trades. Conclusion: By analyzing the ETH/USDT trading pair, we have identified a significant selling area at 1920 and 1940, suggesting potential short opportunities. Furthermore, we anticipate a price correction towards the support level of 1800.
Short
by Un_trade