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ETH/USDT - Potential Short Scenario
Hello Traders!
ETH continues to move within the global downtrend.
After the downward momentum, the price found support near the level of $1740. At the moment, there is a consolidation in the sideways range of $1740 - $2140.
Taking into account the local wave of positivity in the market, as well as a large number of traders opening short positions in the expectation of renewal of price minimums, it is possible to assume the price exit beyond the upper border of the range - the level of $2140 in order to collect liquidity.
After the completion of the local movement, we can expect a continuation of the downward price formation with the aim of fixing the profit in the zone of interest of buyers - $1050 - $1230.
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
ETH continues to move within the global downtrend.
After the downward momentum, the price found support near the level of $1740. At the moment, there is a consolidation in the sideways range of $1740 - $2140.
Taking into account the local wave of positivity in the market, as well as a large number of traders opening short positions in the expectation of renewal of price minimums, it is possible to assume the price exit beyond the upper border of the range - the level of $2140 in order to collect liquidity.
After the completion of the local movement, we can expect a continuation of the downward price formation with the aim of fixing the profit in the zone of interest of buyers - $1050 - $1230.
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
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