ETH/USDT : Is there any interest in Ethereum ?

ETHUSDT
Hello everyone 😃
Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !

Last time we marked the supply zone at $4700 before any dive below $4000 and now it's right below the 4K's level.
As we have the LTF chart into a range; We can do an aggressive long to the Monday's high before any new Monday's range formation.
So that's Why I'm going to spot my invalidation below the current Demand zone as any candle close ( confirmation close ) and set the other Spot limit after the new Monday's range !

📚 Now you may ask your self why am I using the last Monday's low as 2nd entry ?!
Here's is the tip; After a new Monday's range; The last Monday's low would be stop hunted by a EQ candle's wick and we can use it a sharp falling knife catch and enter the short-term position.
The validation will be hold by the new EQ low and we'll be remain valid till any candle close below the EQ low !

So, It seems that the predictions are well green for ETH on the LTF's charts...
But on the HTF's charts, There are some kind of weakness signs !
Let me begin with the 3Days chart and then I'll zoom into more bullish chart with Daily time-frame's chart for further information; Follow me 👇🏼

📌 Broke below the 3D's ascending channel; The Fractal and Technical; Both are pointing the $2969 or $1724support levels as the main retest zones :
Broke below the ascending channel and also take hold below the S/R line; In 1st view, #ETH looks very bearish and it's more likely to have another leg to the lower Demand located $2969.
But before everything; We have to remind that #BTC have a Hourly FVG located at $53000 and the higher gap needs to be filled !
So it's very expected into the higher time-frames for #ETH to retest the broke dynamic support zone.
📚 Now the question is about the bearish targets; Why did I choose $2969 and $1724 as my main retest points ?!
Do me a favor and draw a FIB retracement indicator from March.2020's low to the local highs that we have on #ETH's movement.
If we change the scale from linear to logarithmic and do the same for FIB; We can see that #ETH didn't retest the %38.2 retracement level and it just pulled back from the lower demand zones ( located at %12.5 retracement level ) or the %25 FIB retracement's level !
Now you can find out the harmony between the fractal and the classic analyze which are making a rhythm together !
📊 At the end have to mention that there can be a higher target after a retest on the mentioned targets and it could be $5900 as the levels matched well with the FIB's retracement levels.

📌 We talked enough about bears; Let's have some hope from the bulls side on the daily chart :
Not much to talk; But the lower trendline and the S/R line ( located at $3676.28 ) can be our reversal point and lead the pair to the higher S/R line ( located at $4460.47 ) !
But any rejection below; Or any close below the S/R line will confirm the retest on the mentioned levels...

📑 I would like to inform that we might have the lower range zone because of the gap forming on the weekend on lower levels and it could be a repetition of our last week's range with a higher volatility at supports !
Which means that the pair could rally to the local highs; But market may not want to pay for the longs by heading north just now.
Therefore, since the orderbook shows higher transactional volume on longs as opposed to shorts, it may head south first to liquidate the longs before we can expect any rally of a kind.
-First liquidate the longs in between 40 to 45K range price per BTC (south)
-Second liquidate the shorts (north) = to be confirmed.

Hope you enjoyed the content I created, You can support us with your likes and comments !
Attention: this isn't financial advice we are just trying to help people on their own vision.

Have a good day!
@Helical_Trades