ETH/USDT 1H: Bears Eyeing $3120 as Momentum Fades!
2025-01-23
Category: None

ETH/USDT 1H Chart Analysis 
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Current Price: $3220

 Market Analysis: 
 
 Bearish momentum after rejection at $3300 resistance.
 Hidden bearish divergence on RSI, signaling potential continuation to the downside.
 

 Key Levels: 
 
 Resistance: $3300-$3320
 Support: $3180-$3200
 Critical Demand Zone: $3120-$3140
 
 
 Trade Setup (Confidence Level: 8/10): 
 
 Entry Zone: $3240-$3260
 Targets:
 T1: $3180
 T2: $3120
 Stop Loss: Above $3305 (recent swing high).
 

 Market Maker Activity: 
 
 Distribution phase visible at higher levels ($3300-$3320).
 Potential liquidity sweep below $3180 support.
 Accumulation expected near $3120 demand zone.
 

 Recommendation: 
 
 Short positions recommended in the $3240-$3260 zone.
 Monitor for volume confirmation near entry and support levels.
 Risk management is key due to volatile market conditions.
 Confidence Level: 8/10 for bearish continuation.
 

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