Market Structure Overview:
Markets typically move in two major phases:
🔹 Trend Phase (directional movement)
🔹 Consolidation Phase (sideways movement or accumulation/distribution)
These phases repeat as: Trend → Consolidation → Trend → Consolidation
Ethereum Price Action Breakdown (Daily Timeframe):
Mid-December to End-April: Clear downtrend phase.
May to Early July: Entered a consolidation zone, forming a tight range.
Current Status (July):
🔹 Ethereum has broken out of the consolidation range.
🔹 Currently trading around $3000, confirming strength.
🔹 This breakout may potentially signal the start of Altcoin Season.
Trade Setup – Long Position Idea:
Entry (Buy Zone): Around $2850 (retest of breakout resistance).
Target:
🔹 Primary Target: $4050
🔹 This aligns with a major resistance and Fibonacci extension zone.
Stop Loss: $2600 (below key structure support).
Technical Confluences:
* Breakout above multi-week range.
* Retest of resistance turned support at \$2850.
* Psychological round level near \$3000 acting as a magnet.
* Volume confirmation on breakout (optional to mention if on chart).
Risk Note:
⚠️ Caution: The Market may turn volatile due to unexpected geopolitical or macroeconomic news. Always follow risk management and avoid overleveraging.
Conclusion:
Ethereum’s breakout from a multi-month consolidation phase indicates a potential shift in momentum. If retest levels hold, this could be the beginning of a strong upside rally, possibly leading to a broader Altcoin Season. Traders can position themselves accordingly with a well-defined risk-reward setup.
Markets typically move in two major phases:
🔹 Trend Phase (directional movement)
🔹 Consolidation Phase (sideways movement or accumulation/distribution)
These phases repeat as: Trend → Consolidation → Trend → Consolidation
Ethereum Price Action Breakdown (Daily Timeframe):
Mid-December to End-April: Clear downtrend phase.
May to Early July: Entered a consolidation zone, forming a tight range.
Current Status (July):
🔹 Ethereum has broken out of the consolidation range.
🔹 Currently trading around $3000, confirming strength.
🔹 This breakout may potentially signal the start of Altcoin Season.
Trade Setup – Long Position Idea:
Entry (Buy Zone): Around $2850 (retest of breakout resistance).
Target:
🔹 Primary Target: $4050
🔹 This aligns with a major resistance and Fibonacci extension zone.
Stop Loss: $2600 (below key structure support).
Technical Confluences:
* Breakout above multi-week range.
* Retest of resistance turned support at \$2850.
* Psychological round level near \$3000 acting as a magnet.
* Volume confirmation on breakout (optional to mention if on chart).
Risk Note:
⚠️ Caution: The Market may turn volatile due to unexpected geopolitical or macroeconomic news. Always follow risk management and avoid overleveraging.
Conclusion:
Ethereum’s breakout from a multi-month consolidation phase indicates a potential shift in momentum. If retest levels hold, this could be the beginning of a strong upside rally, possibly leading to a broader Altcoin Season. Traders can position themselves accordingly with a well-defined risk-reward setup.
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.