$ETH (Ethereum) Technical Analysis: Navigating a Sharp Retracement 📉

​Entry Zone: $2,285 – $2,295
Bullish Above: $2,320
Target 1 (TP1): $2,345
Target 2 (TP2): $2,380
Target 3 (TP3): $2,420+
Stop Loss (SL): $2,275
​$ETH is currently facing significant selling pressure on the 1H chart, trading at $2,298.03 with a daily decline of -2.05%. The price has undergone a sharp retracement after hitting a 24h high of $2,404.37, recently bottoming out at a 24h low of $2,293.61. The current candlestick structure shows a vertical drop followed by a small attempt at stabilization, suggesting that the market is searching for a firm floor within this lower liquidity pocket.
​The 24h trading volume for $ETH is highly active at 288,650.41 ETH, totaling approximately $677.60M USDT. This substantial volume during a downward move indicates heavy liquidations and aggressive selling. For a potential bullish reversal, ETH needs to reclaim the $2,320 level and hold it as support. Maintaining the current base above $2,290 is critical to prevent a further slide toward the next major psychological support at $2,250.
#ETH #Ethereum