ETHUSDT Chart Analysis (as of April 5, 2025)

📉 General Trend:
Ethereum is in a clear and strong downtrend since the peak around $4,042 (early 2024).

A series of BOS (Break of Structure) and CHoCH (Change of Character) to the downside confirm bearish control.

A recent BOS below a weak low indicates further downside pressure.

🔍 Support and Resistance Levels:
🔵 Support:
$1,592 – 0% Fibonacci level, a critical low. A breakdown could lead to $1,300 or even $1,000.

$1,720–$1,760 – Minor support zone before the low.

$1,300–$1,400 – Historical demand block.

🔴 Resistance:
$2,170 – 23.6% Fibonacci retracement.

$2,400 – Order block and strong resistance area.

$2,817 – 50% Fibonacci level.

$3,512 – 78.6% Fibonacci retracement.

$4,042 – Previous strong high.

🎯 Short-Term Outlook (Next 1–2 Days):
Likely trading range:

Downside target: ~$1,750

Upside target: ~$2,000–$2,050 (resistance zone)

📉 Short Setup:
Entry: $2,000–$2,050 (resistance block + bearish confirmation)

Take Profit: $1,750–$1,720

Stop Loss: Above $2,100

Risk/Reward Ratio (RRR): ≈ 1:2.5

Trigger: Rejection pattern (e.g., Bearish Engulfing or Shooting Star)

📈 Long Setup:
Entry: Around $1,600–$1,620 (support zone with confirmation)

Take Profit: $1,950–$2,000

Stop Loss: Below $1,580

Risk/Reward Ratio (RRR): ≈ 1:2

Trigger: Bullish hammer + increasing volume

🔻 Lowest Expected Price:
If the $1,592 level breaks, next strong support lies between $1,300–$1,400, with potential to drop as low as $1,000 in a worst-case macro scenario.

🔁 Expected Reversal Area:
A potential bullish reversal might happen at $1,592 if a bullish structure break or confirmation candle appears.

An early reversal could occur if price breaks and holds above $2,200 with strong bullish momentum.

🧠 Additional Notes:
ETH currently appears weaker compared to BTC.

A comparison with the ETH/BTC pair might reveal whether it’s a better time to hold BTC over ETH.

Rallies are likely to be used by bears for shorting unless significant structure changes occur.