๐ $ETH (30-Minute Frame) โ Reaction of the Support Area Ahead ๐ง๐ง
After the liquidity surge from the upper rejection area, Ethereum experienced organized selling that brought it to a strong support area in blue.
The current structure shows early signs of absorption, with the potential formation of a W-shaped reversal pattern.
๐ Quick Technical Overview
- The price is consolidating within the demand area
- Buyers have started to defend the area, which may pave the way for a bullish breakout
- Failure to maintain this block may push the price towards the yellow demand base
๐ Bullish Scenario
๐ฏ Target 1: 4,435
๐ฏ Target 2: 4,535
๐ฏ Target 3: 4,672
๐ Bearish Scenario (if it breaks the 4,280 level)
๐ฏ Target 1: 4,250
๐ฏ Target 2: 4,100 (Deeper Demand Area)
๐ Critical Levels
๐ด Resistance: 4,435 โ 4,672
๐ข Support: 4,280 โ 4,100
โณ The market is at a critical moment, either the beginning of a new bullish wave or a drop towards deeper support.
Careful monitoring of price action around 4,280 is essential to determine the next direction.
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