[ETH] 4H Ethereum Chart Analysis - #ETHUSDT.P TradingView

After the announcement of economic indicators, the hawkish remarks by Powell led to a decline, breaking through the downward trend line, which now appears to have halted.

The recent rebound near the support level of 3,693 is a significant area that has shown three rebounds previously. In fact, I thought it would rise after the Triple Bottom, but it has come down once more before bouncing back.

If we can maintain the support level of 3,822, which has been broken simultaneously with the downward trend line, I think we might not have to switch between offensive and defensive again.

There are minor resistance lines just above, but the main resistance level remains at 4,069, and the 200 EMA is also positioned at the same level.

You all probably know the importance of the 200EMA, so until you see the candles riding above it and receiving support, I hope you always remain skeptical and quickly secure your profits with a profit-taking mindset.