Ethereum #ETHUSDT — Descending Wedge & High R/R Zone

#ETH

The price is moving within a descending channel on the 1-hour timeframe; having reached the lower boundary, it is poised for a rebound, suggesting a potential upward move upon retesting this level.

The Relative Strength Index (RSI) indicates a bearish trend; however, a bullish breakout is likely given that the price has reached "oversold" levels on the 1-hour chart.

An orange trendline supports the likelihood of a bullish rebound.

An initial support level exists at 2425, serving as a preliminary support zone.

A key support zone (marked in green) is located at 2350; the price has bounced from this area multiple times, making it a strong support level.

The price is moving toward the 100-period moving average (a level currently being approached), reinforcing the probability of an upward move.

Entry Price: 2536
Target 1: 2565
Target 2: 2600
Target 3: 2636

Stop Loss: At the green resistance zone.

Remember this simple rule: capital management.

If you have any questions, please leave a comment.

Thank you.

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