ETH 1D Analysis - Key Triggers Ahead | Day 32

☃️ Welcome to the cryptos winter , I hope you’ve started your day well.

⏰ We’re analyzing ETH on the 1-Day timeframe .

👀 On the Ethereum daily timeframe, we can see that after the historic economic war between the U.S. and China, Ethereum broke its ascending channel with a high-volume whale candle and has now managed to stabilize below this channel. Currently, Ethereum is in a critical decision-making zone, with two key resistance levels at $3,873 and $4,223.
A break and confirmation above these zones, especially $4,223, could lead to a bullish continuation; otherwise, a breakdown below the channel support may trigger a deep correction and cause Ethereum to enter a risk-off phase on the higher timeframe (weekly).

🧮 Looking at the RSI oscillator, after crossing down from the 50 level, it is now heading toward the 30 and oversold region. These two zones — 50 and 30 — are our key RSI levels, and when volatility crosses these zones, it can be accompanied by a significant increase in trading volume.

🕯 The recent daily candle of Ethereum has shown a massive amount of sell volume, with an open around $4,400 and a close below $3,900 (ignoring the shadow). This indicates strong selling pressure — if buyers fail to hold Ethereum above $4,200, we could see further correction and selling pressure ahead.

🧠 Currently, there’s no specific trigger for Ethereum, but a trading range will likely form in this zone until the end of the week.
A break of either the top or bottom of this range across multiple timeframes could give us a potential long or short position.

❤️ Disclaimer : This analysis is purely based on my personal opinion and I only trade if the stated triggers are activated .