ETH/USDT 1H: Bulls Charge Toward $3420 After Breaking Key Levels
ETH/USDT 1H Chart Analysis
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Current Market Structure:
Smart Money Levels:
Trade Setup (Confidence 8/10):
Market Maker Intent:
Recommendation:
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Current Market Structure:
- Bullish trend confirmed after breaking previous high at $3280.
- RSI: Hidden Bullish Divergence at 58.80, aligning with price momentum.
- Volume Confirmation: Strong buying pressure supports the breakout.
Smart Money Levels:
- Support: $3180 (Previous Consolidation High - PCH).
- Resistance: $3340 (Premium Zone).
- Key Level: $3246 (acting as equilibrium).
Trade Setup (Confidence 8/10):
- Entry Zone: $3246 - $3250.
- Targets:
- T1: $3340
- T2: $3380
- T3: $3420
- Stop Loss: Below $3175 (under PCH).
- Risk Score: 7/10 (favorable Risk/Reward).
Market Maker Intent:
- Accumulation phase completed at lower levels.
- Currently in markup phase, targeting premium zones.
- Volume Profile: Indicates strong institutional demand, supporting continuation.
Recommendation:
- Long positions favored in the $3246 - $3250 range.
- Watch for volume confirmation above $3280 for added confidence.
- Maintain tight stops below $3175 to minimize downside risk.
- Confidence Level: 8/10 for bullish continuation.
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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.