ETH/USDT 1H: Oversold & Ready to Rebound – Bulls Eyeing $3,320!

ETH/USDT 1H Chart Analysis
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Market Condition:

• Price: $2,939, currently in a discount zone.
  
• RSI: 26.4, indicating extreme oversold conditions.
  

Key SMC Levels:

• Support: $2,880 (major discount zone).
  
• Resistance: $3,120 (equilibrium).
  
• Premium Zone: $3,320 - $3,400.
  

Trade Setup (Confidence 8/10):

• Long Entry: $2,880 - $2,900 zone.
  
• Targets:
  
• T1: $3,120.
  
• T2: $3,320.
  
• Stop Loss: $2,840 (below discount).
  
• Risk/Reward Ratio: 1:3.5 (favorable R:R).
  

Market Maker Analysis:

• Distribution Phase Complete—now transitioning to accumulation.
  
• Hidden Bullish Divergence Forming on RSI, signaling a potential reversal.
  
• Expect a liquidity grab below $2,880 before price rebounds.
  
• Smart Money likely accumulating at these levels.
  

Risk Score: 7/10

• Wait for confirmation of support at discount zone before entering.
  
• Declining volume suggests a potential reversal is forming.
  
• Strong technical setup for longs once support is validated.
  

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