📈 Chart Overview:
Timeframe: 4H (Ethereum/USDT)
Trend Reversal: Ethereum has broken out of a falling wedge pattern, indicating a shift from bearish to bullish momentum.
Support Level: Around $1,800 - $1,900, where price previously found strong buying interest.
Retest Confirmation: ETH successfully retested the breakout level (~$2,020), confirming a potential bullish continuation.
Resistance Zone: The next key resistance area is around $2,250, followed by a potential move towards the $2,530 - $2,550 target zone.
📊 Trade Setup:
Bullish Bias: Price action suggests an upward move towards $2,250 and potentially $2,530.
Risk Management: A stop-loss can be set below $2,020 to minimize downside risk.
🔥 Conclusion: If Ethereum maintains momentum above the retest zone, it could see a strong rally in the coming days! 🚀
Timeframe: 4H (Ethereum/USDT)
Trend Reversal: Ethereum has broken out of a falling wedge pattern, indicating a shift from bearish to bullish momentum.
Support Level: Around $1,800 - $1,900, where price previously found strong buying interest.
Retest Confirmation: ETH successfully retested the breakout level (~$2,020), confirming a potential bullish continuation.
Resistance Zone: The next key resistance area is around $2,250, followed by a potential move towards the $2,530 - $2,550 target zone.
📊 Trade Setup:
Bullish Bias: Price action suggests an upward move towards $2,250 and potentially $2,530.
Risk Management: A stop-loss can be set below $2,020 to minimize downside risk.
🔥 Conclusion: If Ethereum maintains momentum above the retest zone, it could see a strong rally in the coming days! 🚀
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.