Ethereum (ETH/USDT) at Critical Support – Breakout or Breakdown?
2025-02-02
Category: None

📉 Ethereum (ETH/USDT) 4H Chart Analysis
🔴 Current Price: $3,220.06 (-0.95%)
📊 Indicators & Patterns:

Downtrend Resistance: A descending trendline is acting as resistance.
Support Zone: The red highlighted area (~$3,220) is a key support level.
200 EMA: At $3,320, acting as resistance.
🔮 Possible Scenarios
1️⃣ Bullish Case 🚀: If ETH holds the support and breaks the descending trendline ($3,320), it could test higher levels around $3,400 - $3,500.
2️⃣ Bearish Case 📉: A breakdown below the support ($3,220) could trigger a fall towards $3,100 or even $3,000.

🎯 Key Levels to Watch
Resistance: $3,320 (EMA 200), $3,400 (Trendline)
Support: $3,220 (Zone), $3,100 (Next Major Support)
⏳ Conclusion
ETH is at a critical decision point. A bounce could lead to a breakout, but failure to hold could trigger more downside. Watch for a reaction around $3,220! 🚦
