ETH/USD – Major Breakout Loading? Get Ready for a Big Move!
Analysis:
Ethereum is currently trading within a strong downward channel, consistently forming lower highs and lower lows. However, the price is now approaching a critical demand zone, which has previously acted as a key support level.
If ETH breaks out of this descending channel and reclaims the $1,800–$2,000 region, we could witness a powerful bullish move.
Trade Setup:
Entry Zone: Around current levels ($1,560–$1,580)
Stop Loss: Around $1,024 (just below key structure)
Take Profit Targets:
TP1: $3,189
TP2: $3,314
This setup offers an excellent risk-to-reward ratio and strong technical confluence.
Why This Trade?
Price nearing the end of a falling wedge
Sitting at a major demand zone
Potential for breakout and FOMO-driven rally
Note: This is not financial advice – for educational purposes only. Always manage your risk smartly.
Analysis:
Ethereum is currently trading within a strong downward channel, consistently forming lower highs and lower lows. However, the price is now approaching a critical demand zone, which has previously acted as a key support level.
If ETH breaks out of this descending channel and reclaims the $1,800–$2,000 region, we could witness a powerful bullish move.
Trade Setup:
Entry Zone: Around current levels ($1,560–$1,580)
Stop Loss: Around $1,024 (just below key structure)
Take Profit Targets:
TP1: $3,189
TP2: $3,314
This setup offers an excellent risk-to-reward ratio and strong technical confluence.
Why This Trade?
Price nearing the end of a falling wedge
Sitting at a major demand zone
Potential for breakout and FOMO-driven rally
Note: This is not financial advice – for educational purposes only. Always manage your risk smartly.
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.