ETHUSDT October 08 2024
Good morning all.
The content is AI generated , Please note
The levels are my levels though
Bearish Scenario:
Key Retest Levels:
2376.52 or 2341: These are the first potential retest points. If ETH breaks these levels, bearish momentum could increase.
2293: If the price breaks 2293, it signals that the uptrend might end, and further downside can be expected.
Next Target:
2260.08: This is an important demand zone where you might see strong buying pressure, potentially halting the downtrend.
Bullish Scenario:
Resistance at 2458.1502: If ETH starts to move upward, this level could act as a resistance point. A break above this might confirm bullish momentum.
Supply Zone:
2458.1502: This could represent an area where sellers might step in. Be cautious of price action here for any reversals.
Demand Zones (upward targets if bullish momentum continues):
2497.64
2562.08
2656.14 These levels represent areas where buyers could aim, assuming a strong bullish breakout.
Strategy:
Bearish: Watch the 2293 level closely. If it breaks, a move down to the 2260.08 demand zone could be likely. Momentum could further pick up if this level doesn’t hold.
Bullish: On the upside, breaking 2458.1502 could bring ETH towards the higher demand zones at 2497.64, 2562.08, and even 2656.14.
It's important to track the volume and candle confirmations near these key levels to determine if either scenario is gaining strength.
The content is AI generated , Please note
The levels are my levels though
Bearish Scenario:
Key Retest Levels:
2376.52 or 2341: These are the first potential retest points. If ETH breaks these levels, bearish momentum could increase.
2293: If the price breaks 2293, it signals that the uptrend might end, and further downside can be expected.
Next Target:
2260.08: This is an important demand zone where you might see strong buying pressure, potentially halting the downtrend.
Bullish Scenario:
Resistance at 2458.1502: If ETH starts to move upward, this level could act as a resistance point. A break above this might confirm bullish momentum.
Supply Zone:
2458.1502: This could represent an area where sellers might step in. Be cautious of price action here for any reversals.
Demand Zones (upward targets if bullish momentum continues):
2497.64
2562.08
2656.14 These levels represent areas where buyers could aim, assuming a strong bullish breakout.
Strategy:
Bearish: Watch the 2293 level closely. If it breaks, a move down to the 2260.08 demand zone could be likely. Momentum could further pick up if this level doesn’t hold.
Bullish: On the upside, breaking 2458.1502 could bring ETH towards the higher demand zones at 2497.64, 2562.08, and even 2656.14.
It's important to track the volume and candle confirmations near these key levels to determine if either scenario is gaining strength.
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