Technical Analysis of ETHUSDT (4H Chart - OKX)

Technical Analysis of ETHUSDT (4H Chart - OKX)

Trend Analysis & Market Outlook
The chart indicates a strong downtrend, with price recently attempting a recovery from the lower support zone.

The 200 EMA (3,169.88 USDT) serves as a major resistance level.
Bearish Supply Zones are present at 3,408.28 USDT and above, limiting potential upside.
The 50 EMA is currently acting as support, which might indicate a short-term bullish trend.
Key Levels & Trading Strategy

Support Levels:

2,696.83 USDT
2,691.13 USDT
2,587.32 USDT (strong demand zone)

Resistance Levels:

2,739.64 USDT (short-term resistance)
2,938.10 USDT (mid-term target)
3,169.88 USDT (major breakout level)

Market Sentiment:

Bearish Bias Below 3,169.88 USDT
Bullish Confirmation Above 2,739.64 USDT with possible continuation to 2,938.10 USDT
Risk Management & Trade Setup
Bullish Scenario: If price holds above 2,700 USDT, it could test resistance at 2,739 - 2,938 USDT.

Bearish Scenario: A rejection at 2,739 USDT may lead to another drop toward 2,587 USDT.
Stop Loss (SL): Should be placed below 2,587 USDT to limit downside risk.

Final Conclusion
Short-term Outlook: Cautiously Bullish (as long as price stays above 2,700 USDT)
Long-term Trend: Bearish (unless price reclaims 3,169 USDT)
Best Strategy: Monitor price action at 2,739 USDT; breakout = bullish continuation, rejection = short opportunity.

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