ETHEREUM: Bouncing on crucial support level!!
Join our community and start your crypto journey today for:
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Let's analyze ETHUSDT :
Ethereum is currently supported by two key zones:
Horizontal Support ($2191 - $2550): A critical area for buyers to defend. A break below this range could signal further downside.
Trend Support: This zone has been holding ETH since September 2020, providing strong support.
Importantly, these two support zones are currently overlapping.
ETH is holding above the 200-day EMA on the 5-day chart, indicating bullish momentum.
A weekly close above 2.1k could signal a potential bullish trend for ETH.
Major resistance lies in the 3.8k - 4.1k range, requiring a significant 45% rally from current levels.
Entering ETH at current levels appears to have lower risk due to the strong support zones and positive technical indicators.
Support Levels:
CMP to $2531
$2071 to $2311
Resistance Level:
3.8k to 4.1k
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Let's analyze ETHUSDT :
Ethereum is currently supported by two key zones:
Horizontal Support ($2191 - $2550): A critical area for buyers to defend. A break below this range could signal further downside.
Trend Support: This zone has been holding ETH since September 2020, providing strong support.
Importantly, these two support zones are currently overlapping.
ETH is holding above the 200-day EMA on the 5-day chart, indicating bullish momentum.
A weekly close above 2.1k could signal a potential bullish trend for ETH.
Major resistance lies in the 3.8k - 4.1k range, requiring a significant 45% rally from current levels.
Entering ETH at current levels appears to have lower risk due to the strong support zones and positive technical indicators.
Support Levels:
CMP to $2531
$2071 to $2311
Resistance Level:
3.8k to 4.1k
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
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.