ETHUSDT: Attempting a Recovery After the Dump
2025-01-09
Category: None

 

Hey, traders! Today, we’re focusing on $ETHUSDT. The price is trying to recover after a sharp dump, currently sitting at  3,345.52 USDT . We see a support level at  3,308.46 USDT , which has held up under pressure, but its retention remains critical.

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🔑  Key Levels: 

 Support: 
 
 3,308.46 USDT  — the key zone where buyers might keep the market steady.
 3,302.52 USDT  — an additional defense level in case of renewed pressure.
 

 Resistance: 
 
 3,360.00 USDT  — the nearest target to test the bulls' strength.
 3,400.00 USDT  — a zone for partial profit-taking if the upward momentum continues.
 

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🚩  Trading Strategy: 

 Entry Point: 
- Consider a long position after confirming the support at  3,308.46 USDT  and observing a bullish impulse.

 Stop-Loss: 
- Place your stop below  3,302.52 USDT  to minimize risks.

 Take-Profit Targets: 
 
 3,360.00 USDT  — the first profit-taking point.
 3,400.00 USDT  — the final target for this upward move.
 

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📈  Technical Analysis: 

 
 The sharp volume dump indicates a liquidity grab attempt.
 If bulls can hold the  3,308.46 USDT  level, recovery toward resistance is possible.
 It’s important to monitor volume and price reaction at key levels.
 

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💡  Conclusion: 

Ethereum is clearly attempting to recover after a strong dump, but buyers must hold support. Will the market manage to reclaim lost ground? Share your thoughts in the comments!