ETH BEARISH STAND

Bearish View on ETHUSDT

Trade:


Sell ETH Perpetual future at $2220

Stop Loss: $2260

Target: $2170

Max Profit: 550/ETH

Max Loss : 440/ETH

Rationale:

The most recent movement in ETH suggests a potential temporary halt in the upward momentum, with noticeable retracements in play. Moreover, a recently established supply zone/resistance has been pinpointed on the charts.

At present, the price is in the process of retracing towards the supply zone at 2240.

For risk management, we recommend setting a stop loss at 2260 to invalidate the aforementioned setup.
Chart PatternsTechnical IndicatorsTrend Analysis

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