Ethereum is currently approaching a crucial resistance zone around the 4710 level, marked as a major decision point. Price has shown multiple Breaks of Structure (BOS) in the past, confirming active liquidity on both sides. The highlighted zone represents a critical area where market direction could shift based on reaction strength.
If buyers maintain momentum and successfully break above the resistance with solid bullish candle closures, a continuation move toward the upper target zone (around 4780–4800) can be expected. This would confirm a short-term bullish structure and potential sweep of the weak high.
However, a strong rejection from this decision point could trigger a bearish reaction, leading to a downside move toward the lower target zone near 4660–4640. Traders should watch for clear signs of market structure shift (CHoCH) and volume confirmation before entering.
If buyers maintain momentum and successfully break above the resistance with solid bullish candle closures, a continuation move toward the upper target zone (around 4780–4800) can be expected. This would confirm a short-term bullish structure and potential sweep of the weak high.
However, a strong rejection from this decision point could trigger a bearish reaction, leading to a downside move toward the lower target zone near 4660–4640. Traders should watch for clear signs of market structure shift (CHoCH) and volume confirmation before entering.
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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.