#Ethereum #ETH #ETHUSDT #altcoins
Here we can see Ethereum on the 4H timeframe, up-close. Notice the same price dynamic as with Bitcoin but with a bearish note rather than bullish.
The previous candle challenged MA200 but was quickly rejected. The session closed below the open producing a red candle. The current session is full red. This should be taken as an entry opportunity; let me explain.
The main low happened 21-November at $2,623, then a higher low 1-Dec at $2,716. The current session, while full red and after multiple days of bearish action, is still a higher low compared to these other two. The last session that closed also produced lower volume compared to 1-Dec and 21-Nov.
This means we are seeing a continuation of the retrace but the chart structure remains bullish. The main support sits around $2,750.
Ethereum—ETHUSDT—is now trading within a support/buy/entry zone. This is a good place to buy/LONG.
Namaste.
✅ Trade here on $ETH
