EthereumShort
ETH/USD on the 1-hour timeframe from Bitstamp.next move possible
1. Trendline & Support Zone:
A diagonal trendline is visible, indicating an upward trend.
The blue shaded area represents a key support zone around $2,680–$2,700, where price previously bounced.
2. Price Action & Breakout Setup:
ETH is currently at $2,738, moving toward a potential breakout.
The price is expected to rise toward the next resistance levels ($2,776 and $2,825), as indicated by the black arrow.
3. Trade Setup (Long Position):
Entry: Around the current price of $2,738.
Target (Take Profit - TP): Between $2,825 and $2,876.
Stop-Loss (SL): Below $2,696 to manage risk.
Interpretation:
Bullish scenario: If ETH holds above the current support, it could push higher toward $2,825 and beyond.
Bearish invalidation: If price breaks below $2,696, the setup could be invalidated, leading to a further decline.
Would you like help refining this trade plan?
A diagonal trendline is visible, indicating an upward trend.
The blue shaded area represents a key support zone around $2,680–$2,700, where price previously bounced.
2. Price Action & Breakout Setup:
ETH is currently at $2,738, moving toward a potential breakout.
The price is expected to rise toward the next resistance levels ($2,776 and $2,825), as indicated by the black arrow.
3. Trade Setup (Long Position):
Entry: Around the current price of $2,738.
Target (Take Profit - TP): Between $2,825 and $2,876.
Stop-Loss (SL): Below $2,696 to manage risk.
Interpretation:
Bullish scenario: If ETH holds above the current support, it could push higher toward $2,825 and beyond.
Bearish invalidation: If price breaks below $2,696, the setup could be invalidated, leading to a further decline.
Would you like help refining this trade plan?
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.
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.