Ethereum (ETH/USDT) Rebound or Further Drop? Critical Levels!!
2025-02-05
Category: None

📊 Ethereum (ETH/USDT) Daily Chart Analysis – Feb 4, 2025
🔴 Current Market Overview:
Closing Price: $2,692.12 (-6.52%) 📉
200 EMA Level: $3,128.49 (acting as resistance)
Key Support: $2,250 - $2,400 (Strong Support Zone) ✅
Key Resistance: $3,900 - $4,100 (Demand Zone) 🔥
📉 Price Action Insights:
ETH has seen a sharp decline, breaking below the 200 EMA 🚨.
Price bounced off the Strong Support area, indicating buying interest 📈.
A recovery scenario suggests ETH could retest the $3,000+ zone before heading towards the demand zone near $4,000.
🛠 Trading Strategy:
✅ Bullish Scenario:

A successful higher low formation around $2,750-$2,800 could trigger a move towards $3,250 - $4,000 📊.
Look for confirmation of bullish momentum with volume increase.
🚨 Bearish Risk:

If ETH fails to hold above support ($2,400-$2,500), further downside towards $2,000 is possible 😨.
🎯 Final Thoughts:
ETH is at a critical support; a bounce here could offer a great risk-reward opportunity 🚀.
Keep an eye on 200 EMA resistance and volume confirmation.
💬 What’s your plan? Are you bullish or waiting for more confirmation? 🤔
