ETH/USDT – 1H Timeframe
ETHUSDT.P
Pattern Identified: Ascending Triangle
Ethereum is currently trading at $1626, consolidating within an ascending triangle—a bullish continuation pattern. Price has been forming higher lows consistently while facing resistance around the $1649–$1669 supply zone (🔵).
A breakout above this zone with strong volume could ignite a move toward $1720+. On the flip side, a rejection may lead to a retest of the trendline support near $1600–$1596 (🟡), which is a crucial level for bulls to defend.
📋 Safe Trading Plan:
• Long Entry: On breakout + retest of $1669
• Stop Loss: Below $1638 / 1H candle close
• Target: $1720 and beyond
❌ Invalidation: Breakdown below the ascending trendline support.
Bias: Bullish – as long as ETH holds above the rising trendline. Stay patient and trade the confirmation, not the anticipation!
#NFA, #DYOR
⸻
Don’t forget to hit the 🚀 button, if you like the analysis.
ETHUSDT.P Pattern Identified: Ascending Triangle
Ethereum is currently trading at $1626, consolidating within an ascending triangle—a bullish continuation pattern. Price has been forming higher lows consistently while facing resistance around the $1649–$1669 supply zone (🔵).
A breakout above this zone with strong volume could ignite a move toward $1720+. On the flip side, a rejection may lead to a retest of the trendline support near $1600–$1596 (🟡), which is a crucial level for bulls to defend.
📋 Safe Trading Plan:
• Long Entry: On breakout + retest of $1669
• Stop Loss: Below $1638 / 1H candle close
• Target: $1720 and beyond
❌ Invalidation: Breakdown below the ascending trendline support.
Bias: Bullish – as long as ETH holds above the rising trendline. Stay patient and trade the confirmation, not the anticipation!
#NFA, #DYOR
⸻
Don’t forget to hit the 🚀 button, if you like the analysis.
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.