Instrument: ETHUSDT
Time Frame: 4H
Exchange: Bitget
Trading Type: Swing Trading
Ethereum is currently positioned at a critical juncture. Observing the larger chart, we can identify four significant key levels to focus on.
Starting from the 2360 level, the trendline has been broken during the recent decline, with some minor support observed at the second key level. From a buying perspective, it is advisable to adopt a conservative approach until the first key level and the trend support line are reclaimed.
However, if the second key level fails to hold, a bearish strategy targeting the third key level for further downside movement will be implemented.