Technical analysis by TraderX10101 about Symbol ETH: Buy recommendation (7/24/2024)

Today was the first day ETH ETFs were traded.The price of ETH is now correcting because this news is already known and has become just a formality.What’s important about these ETFs are the volumes, which in the case of the #BTCETF approval initially put selling pressure on the market, followed by a larger upward movement.I have two scenarios for this 1-day (1D) timeframe:🟢 Green Scenario (Bullish): Possible recovery and increase in the coming days.⚫ Black Scenario (Bearish): Short-term correction, but potentially very bullish in the medium term because a lot of liquidity has formed in that marked area and we also have an FVG (imbalance) on the W timeframe + resistance on that parallel channel.Watch the market closely 3100-3300 and consider these scenarios in your trading strategies!