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#BearishBreakdown 📉 ETH/USD 1H Analysis: Bearish Breakdown Below Support?
Ethereum is currently hovering around a crucial psychological level on the 1-hour timeframe. After the recent price action, we are seeing a consolidation phase right above a key support zone.
Key Trading Setup:
Support Breakdown: Watch the $2,050 - $2,000 support area very closely. If we see a solid 1-hour candle closing below the $2,000 level, it will signal a major support breakdown.
Downside Trade: Once the $2,000 support is breached, it could trigger a significant sell-off.
Primary Target: In the event of a successful breakdown, the next major downside target is the $1,750 - $1,850 support zone.
Resistance: Immediate resistance is seen near $2,140 - $2,150.
Strategy:
Wait for a confirmed 1H close below the support zone before considering a downside entry. Always use proper risk management as volatility remains high near these key levels.
What are your thoughts? Will ETH hold this support or crash further? Let me know in the comments! 👇