📊 Ethereum (ETH/USD) Price Action Analysis (1-Hour Timeframe) 📈
🔍 Chart Context:
Timeframe: 1-hour (intraday outlook)
Asset: ETH/USD (Binance)
🟠 Key Levels & Observations:
✅ Support Zone:
Around $2,470 - $2,500 (highlighted with orange boxes).
Price consistently tests and respects this area multiple times, indicating strong demand.
✅ Resistance Levels:
First significant resistance: $2,710 - $2,720 (highlighted with blue lines).
Extended target: around $2,760.
✅ Recent Price Action:
Clear higher low formation at the support zone, suggesting potential reversal.
Previous swing highs are well marked (orange circles), hinting at potential resistance retests.
✅ Chart Patterns:
Double bottom / accumulation pattern forming at the highlighted support zone.
Strong bullish reaction expected on successful retest.
🎯 Trade Setup Idea:
Entry: Near $2,500 support zone.
Target: Initial take-profit zone around $2,720.
Extended Target: If momentum continues, $2,760 level.
Stop-Loss: Below $2,470, ideally near $2,450 for risk management.
📈 Technical Bias:
Bullish bias in the short term, driven by repeated support tests and signs of reversal.
Chart hints at breakout potential if price overcomes $2,720.
⚠️ Risk Management & Cautions:
Key risk: False breakouts below $2,470 could trigger bearish continuation.
Maintain a favorable risk-reward ratio (e.g., 1:2 or better).
Market volatility can increase rapidly; keep trade sizes appropriate.
🚀 Summary & Conclusion:
🔵 Bias: Bullish
🔵 Entry Zone: $2,470 - $2,500
🔵 Target Zones:
TP1: $2,720
TP2: $2,760
🔵 Stop-Loss: Below $2,450
🔵 Key Indicators: Structure break, price respecting support, bullish engulfing candle potential.
🔍 Chart Context:
Timeframe: 1-hour (intraday outlook)
Asset: ETH/USD (Binance)
🟠 Key Levels & Observations:
✅ Support Zone:
Around $2,470 - $2,500 (highlighted with orange boxes).
Price consistently tests and respects this area multiple times, indicating strong demand.
✅ Resistance Levels:
First significant resistance: $2,710 - $2,720 (highlighted with blue lines).
Extended target: around $2,760.
✅ Recent Price Action:
Clear higher low formation at the support zone, suggesting potential reversal.
Previous swing highs are well marked (orange circles), hinting at potential resistance retests.
✅ Chart Patterns:
Double bottom / accumulation pattern forming at the highlighted support zone.
Strong bullish reaction expected on successful retest.
🎯 Trade Setup Idea:
Entry: Near $2,500 support zone.
Target: Initial take-profit zone around $2,720.
Extended Target: If momentum continues, $2,760 level.
Stop-Loss: Below $2,470, ideally near $2,450 for risk management.
📈 Technical Bias:
Bullish bias in the short term, driven by repeated support tests and signs of reversal.
Chart hints at breakout potential if price overcomes $2,720.
⚠️ Risk Management & Cautions:
Key risk: False breakouts below $2,470 could trigger bearish continuation.
Maintain a favorable risk-reward ratio (e.g., 1:2 or better).
Market volatility can increase rapidly; keep trade sizes appropriate.
🚀 Summary & Conclusion:
🔵 Bias: Bullish
🔵 Entry Zone: $2,470 - $2,500
🔵 Target Zones:
TP1: $2,720
TP2: $2,760
🔵 Stop-Loss: Below $2,450
🔵 Key Indicators: Structure break, price respecting support, bullish engulfing candle potential.
Market Analysts, Mentor, Forex Trader.
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
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.
Market Analysts, Mentor, Forex Trader.
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
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.