ETHUSDT TECHNICAL ANALYSIS NEXT MOVE POSSIBLE CHECK CAPTAIN

This chart represents an analysis of Ethereum (ETH) against Tether (USDT) on a 1-hour timeframe from Binance. Here’s a breakdown of the key elements:

1. Price Action & Trendlines

The chart shows previous ascending channels (marked in blue) that led to a breakdown.

The price recently dropped sharply after breaking below a key resistance zone.



2. Support & Resistance Zones

The red zone around $2,621.45 indicates a resistance level where price may struggle to break through.

The green zone around $2,724.32 suggests a target level if price breaks resistance.



3. Fibonacci & Technical Indicators

Concentric circles in red and blue suggest Fibonacci-based confluence levels.

The price has reached a potential support level (marked with the lightning bolt icon), suggesting a possible reversal.



4. Projected Movement

The black arrow suggests a bullish rebound from $2,423.12, targeting $2,621.45 first.

If price breaks the resistance, it could move toward $2,724.32.




Conclusion

The chart predicts a potential bullish recovery, but confirmation is needed with price action at $2,423. If ETH holds this support, it may rally toward $2,621 and higher. However, if it fails, further downside is possible.

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