ETH/USDT 4H: Patience is Key as Market Finds Direction

ETH/USDT 4H Chart Analysis

Current Market Condition:

• Bearish bias, trading at $3240 with declining momentum.
  

Smart Money Analysis:

• Selling Pressure: Lower highs indicate institutional distribution.
  
• FVG: $3400 acting as strong resistance.
  
• Liquidity Pools: Below $3200 likely targeted next.
  

Key Levels:

• Resistance: $3400, $3500
  
• Support: $3200, $3000
  
• Weekly Low: $2900 (major support).
  

Technical Indicators:

• Hidden bearish divergence on RSI.
  
• Money flow suggests ongoing distribution.
  

Trade Setup (Confidence: 6/10):

• No immediate entry recommended.
  
• Shorts: Enter if price breaks below $3200 with volume.
  
• Longs: Only consider if $3300 is reclaimed with strong volume confirmation.
  

Recommendation:

• Patience is key.
  
• Market makers are likely accumulating at lower levels while trapping retail in premature longs.
  
• Wait for a clear break of the range to confirm direction before taking a position.
  
• Confidence Level: 6/10 for cautious trading in current conditions.