ETH/USDT 1H: Bears Eyeing $3120 as Momentum Fades!

ETH/USDT 1H Chart Analysis
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Current Price: $3220

Market Analysis:

• Bearish momentum after rejection at $3300 resistance.
  
• Hidden bearish divergence on RSI, signaling potential continuation to the downside.
  

Key Levels:

• Resistance: $3300-$3320
  
• Support: $3180-$3200
  
• Critical Demand Zone: $3120-$3140
  

Trade Setup (Confidence Level: 8/10):

• Entry Zone: $3240-$3260
  
• Targets:
  
• T1: $3180
  
• T2: $3120
  
• Stop Loss: Above $3305 (recent swing high).
  

Market Maker Activity:

• Distribution phase visible at higher levels ($3300-$3320).
  
• Potential liquidity sweep below $3180 support.
  
• Accumulation expected near $3120 demand zone.
  

Recommendation:

• Short positions recommended in the $3240-$3260 zone.
  
• Monitor for volume confirmation near entry and support levels.
  
• Risk management is key due to volatile market conditions.
  
• Confidence Level: 8/10 for bearish continuation.
  

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