🔍 Market Overview
On the 4H timeframe, ETHUSD is showing recovery momentum after a strong bounce from the lower demand zone. Price action suggests short-term bullish strength, but the presence of a major supply zone above keeps the market in a critical decision phase.
Currently currency exchange trading, Ethereum is trading near 2959, moving toward a key resistance region. This area is crucial as it can either trigger a bullish continuation or result in a bearish rejection.
📈 Technical Structure Breakdown
🔹 Pattern Identified:
Range-Bound Market with Supply & Demand Zones
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Price respecting major demand and supply areas
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Buyers defending lower levels aggressively
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Sellers active near higher resistance zones
🔹 Key Levels:
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Major Resistance / Supply Zone: 3180 – 3250
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Immediate Resistance: 3100 – 3150
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Immediate Support: 2950 – 2900
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Strong Demand Zone: 2700 – 2750
✅ BUY Trade Plan (Bullish Scenario)
📌 Condition:
Only enter BUY if price breaks and closes above 3250 on the 4H timeframe.
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Buy Entry: Above 3250
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Stop Loss: 3100
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Target 1: 3500
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Target 2: 3750
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Extended Target: 3900 – 3920
📈 Logic:
A confirmed breakout above the major supply zone indicates strong bullish continuation. This can attract momentum traders and institutional participation, pushing ETH toward higher targets.
❌ SELL Trade Plan (Bearish Scenario)
📌 Condition:
SELL only if price breaks and closes below 2900 on the 4H timeframe.
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Sell Entry: Below 2900
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Stop Loss: 3180
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Target 1: 2800
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Target 2: 2750
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Extended Target: 2700
📉 Logic:
Failure to break resistance followed by a support breakdown may lead to aggressive selling as liquidity is triggered below the demand zone. For such kind of valuable information, and educational content on currency exchange trading, global traders, stay connected with Pipze, best forex trading platform.
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