$ETH /USD based on the data you provided:
Current Price Data
Last Price: $1,952.49
24h Change: -7.7%
Price Movement (recent): $2,050 → $1,952.49 (downtrend)
Market Cap / Volume: Not fully specified, but significant given ETH’s liquidity
Technical Analysis for Short Setup
Trend:
ETH is in a strong bearish trend, down ~7.7% in the last 24h.
Recent candles likely show lower highs and lower lows, confirming momentum to the downside.
Resistance Levels (for short entry):
Immediate resistance: $1,975–$1,980 (recent minor bounce zone).
Secondary resistance: $2,000 (psychological / round number).
Support Levels (targets for short):
Immediate support: $1,925 (recent swing low / minor support).
Secondary support: $1,900 (psychological support level).
Extended support: $1,850 (previous strong support zone).
Volume & Momentum:
High selling pressure is likely given the sharp 7.7% drop.
Momentum indicators (RSI, MACD) are likely oversold in very short term, so entry may be better on minor pullbacks to resistance.
Short Trade Plan
Entry Zone: $1,960–$1,970 (on minor bounce to resistance)
Stop Loss: $1,985–$2,000 (above key resistance)
Take Profit Targets:
TP1: $1,925 (recent low)
TP2: $1,900 (psychological support)
TP3: $1,850 (extended support / previous swing low)
Risk-Reward:
Risking ~$15–$30 to target ~$25–$120 → roughly 1:1 to 4:1 reward ratio depending on TP.
✅ Summary:
ETH/USD is in a strong bearish trend. Shorting on a minor bounce to $1,960–$1,970 with a stop above $1,985–$2,000 targets a pullback toward $1,925–$1,850. Use caution as oversold conditions can trigger small short-term bounces.
#ADPDataDisappoints #JPMorganSaysBTCOverGold #hiracrypto