ETHUSDT: Important resistance and support to look for!!
2024-09-11
Category: None

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Hello everyone,
ETHUSDT is currently holding on to a long-standing trendline that has provided consistent support over time. The price has bounced off this trendline multiple times, but the recent repeated dips to $2093 and $2150 have created a scenario where further pressure could potentially lead to a break below this support. The significant drop in volume raises concerns about a possible downward move. For ETH to avoid breaking this key support, it would need to rally and break and give weekly closing above the resistance level at $2535, which could signal a reversal of the current downtrend. 
If the trendline breaks, the below support zones will likely come into play.

Upper support zone:
SUPPORT ZONE= $1695 to $1827

Lower support zone:
SUPPORT ZONE= $1274 to $1371

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