ETH/USDT 1H: Testing $2,900 Support After Bearish Breakdown

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1. Chart timeframe: 1H ETH/USDT analysis.
   
2. Current price: $2,996, down 0.79%.
   
3. Key levels:
   

• Resistance: $3,130 (previous equilibrium).
  
• Support: $2,900 (next major level).
  

1. Price action:
   

• Significant bearish breakdown from the $3,300 level.
  
• Multiple support levels broken, indicating strong selling pressure.
  

1. RSI analysis: Likely oversold on lower timeframes, suggesting potential for a short-term bounce.
   
2. Trend outlook: Overall bearish, with no clear reversal signals yet.
   
3. Setup rating: 3/10 – wait for stabilization and volume confirmation before considering entries.
   

What’s your plan for ETH – watching or trading this zone? 📉📈