Ethereum has been showing signs of exhaustion after its recent rally. I'm watching the $3700 level closely — it's a key support zone that has acted as both resistance and support in the past.
🟦 If ETH pulls back to this area, I expect it to find strong buying interest, potentially leading to a significant bounce and continuation of the bullish trend.
📌 Scenario I'm Watching:
🔻 Pullback to the $3700 support zone
📉 Shakeout or stop hunt below previous lows
💚 Followed by a strong bullish reversal — possible move toward $4000+
Why $3700?
Confluence of previous highs/lows
Psychological round number
Potential liquidity pocket
Not Financial Advice!
This is a scenario I'm tracking, not a guarantee. As always, wait for confirmation (e.g. bullish engulfing, RSI divergence, volume spike) before jumping in.
📉 If $3700 fails decisively, I'll reassess — next support likely around $3550–3600.
🟦 If ETH pulls back to this area, I expect it to find strong buying interest, potentially leading to a significant bounce and continuation of the bullish trend.
📌 Scenario I'm Watching:
🔻 Pullback to the $3700 support zone
📉 Shakeout or stop hunt below previous lows
💚 Followed by a strong bullish reversal — possible move toward $4000+
Why $3700?
Confluence of previous highs/lows
Psychological round number
Potential liquidity pocket
Not Financial Advice!
This is a scenario I'm tracking, not a guarantee. As always, wait for confirmation (e.g. bullish engulfing, RSI divergence, volume spike) before jumping in.
📉 If $3700 fails decisively, I'll reassess — next support likely around $3550–3600.
Trade closed: target reached
Closed a little before TP, still made profits. It's making a reversal now.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.