$ETH (Ethereum) Technical Analysis: Consolidation Near Structural Support 📉
Entry Zone: 1,980 – 2,020
Bullish Above: 2,130
Target 1 (TP1): 2,100
Target 2 (TP2): 2,180
Target 3 (TP3): 2,250
Stop Loss (SL): 1,940
$ETH is showing signs of stabilizing after a significant corrective phase on the 4H chart, currently trading at 2,024.18 with a modest 1.81% recovery. The price action recently tested a deep local bottom at 1,970.93, which now serves as critical structural support. After the heavy rejection from the 2,199 peak, the current candles are forming a potential base as selling pressure begins to exhaust.
The 24h trading volume remains substantial at 296.29M USDT, indicating that liquidity is high at these lower levels. While the trend remains cautious, a sustained hold above the 2,000 psychological level is vital for the bulls to prevent further capitulation. A decisive breakout back above the 2,060 minor resistance would signal the start of a trend reversal toward the 2,100+ zones.