Stay ready for the breakout and trade wisly
📉 ETHUSD Technical Analysis Update – 4H Time Frame 📈
1️⃣ ETHUSD is currently forming a descending channel.
2️⃣ Recently, the price has entered a consolidation zone.
3️⃣ A breakout from this consolidation area will confirm the next move.
4️⃣ If ETHUSD breaks out above the resistance, a strong buy signal will be confirmed.
5️⃣ The ideal entry level for a long position is at $2870.
6️⃣ The target for this breakout move is set at $3400.
7️⃣ EMA 50 is acting as dynamic support in the current price action.
8️⃣ The 4-hour time frame shows increasing buying pressure.
9️⃣ A successful breakout could lead to a strong bullish rally.
🔟 Traders should monitor the breakout confirmation before entering a position.
1️⃣1️⃣ A fake breakout could lead to price retracement, so risk management is crucial.
1️⃣2️⃣ If ETHUSD fails to break out, it may continue consolidating.
1️⃣3️⃣ A breakdown below the support could signal further downside movement.
1️⃣4️⃣ Volume analysis will help in confirming the strength of the breakout.
1️⃣5️⃣ A higher timeframe confirmation will add more reliability to the setup.
1️⃣6️⃣ Bitcoin’s price movement may also influence ETHUSD’s direction.
1️⃣7️⃣ MACD and RSI can be used to confirm bullish momentum.
1️⃣8️⃣ A close above $2870 on the 4H timeframe strengthens the buy signal.
1️⃣9️⃣ Patience is key while waiting for a confirmed breakout.
2️⃣0️⃣ Traders should set stop-loss levels to manage risk effectively.
1️⃣ ETHUSD is currently forming a descending channel.
2️⃣ Recently, the price has entered a consolidation zone.
3️⃣ A breakout from this consolidation area will confirm the next move.
4️⃣ If ETHUSD breaks out above the resistance, a strong buy signal will be confirmed.
5️⃣ The ideal entry level for a long position is at $2870.
6️⃣ The target for this breakout move is set at $3400.
7️⃣ EMA 50 is acting as dynamic support in the current price action.
8️⃣ The 4-hour time frame shows increasing buying pressure.
9️⃣ A successful breakout could lead to a strong bullish rally.
🔟 Traders should monitor the breakout confirmation before entering a position.
1️⃣1️⃣ A fake breakout could lead to price retracement, so risk management is crucial.
1️⃣2️⃣ If ETHUSD fails to break out, it may continue consolidating.
1️⃣3️⃣ A breakdown below the support could signal further downside movement.
1️⃣4️⃣ Volume analysis will help in confirming the strength of the breakout.
1️⃣5️⃣ A higher timeframe confirmation will add more reliability to the setup.
1️⃣6️⃣ Bitcoin’s price movement may also influence ETHUSD’s direction.
1️⃣7️⃣ MACD and RSI can be used to confirm bullish momentum.
1️⃣8️⃣ A close above $2870 on the 4H timeframe strengthens the buy signal.
1️⃣9️⃣ Patience is key while waiting for a confirmed breakout.
2️⃣0️⃣ Traders should set stop-loss levels to manage risk effectively.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.