$ETH Price: $3,367
(Not Financial Advice)
⸻
🔍 What Happened?
$ETH broke above $3,400, but failed to hold and dropped back to the current price.
🔴 This is called a False Breakout:
• Liquidity was taken above $3,400 💧
• Late buyers entered the market
• Sellers stepped in and pushed the price back down
➡️ This signals short-term weakness, not a full trend reversal.
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📊 Technical Analysis (1H – 4H Timeframes)
🔴 Key Resistance
📍 $3,390 – $3,420
• Previous support turned into resistance
• Any move into this zone may face selling pressure
🟢 Near Support
📍 $3,320 – $3,300
• Very important support zone
• Holding above it keeps the bullish structure intact
🟢 Stronger Support
📍 $3,250 – $3,200
• Likely target if $3,300 breaks
⸻
🎯 Possible Scenarios
🟢 Bullish Scenario (Preferred)
• Price holds above $3,300
• Sideways consolidation
• Then a real breakout above $3,400
Potential Entry:
📍 $3,310 – $3,330
❌ Stop Loss: $3,260
Targets:
🎯 $3,400
🎯 $3,600
⸻
🔴 Bearish Scenario
• Hourly close below $3,300
• Confirms short-term weakness
Possible move:
⬇️ $3,250 → $3,200
➡️ In this case, no buying until strong support is reached.
⸻
⛔ Important Warning
• Avoid buying around $3,360 – $3,380
• This is a high-risk chop zone
• Best entries come from support or confirmed breakouts
📌 Quick Summary
Break above $3,400 False breakout ❌
Short-term trend Corrective
Key support $3,300
Major resistance $3,400
Best action Wait & react
