Ethereum / USDTLong
ETH/USDT 1H: Bulls Target $3,400 After Key Recovery!
ETH/USDT 1H Chart Analysis
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Current Price: $3,204
Market Structure:
Key Levels:
Trade Setup (Confidence Level: 7/10):
Market Maker Analysis:
Recommendation:
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Current Price: $3,204
Market Structure:
- Bullish momentum following recent recovery.
- RSI: 57.77, showing moderate strength with room for further upside.
Key Levels:
- Support: $3,050 (previous resistance turned support).
- Resistance: $3,325 (supply zone).
- Premium Zone: $3,400-$3,425 (likely target for distribution).
Trade Setup (Confidence Level: 7/10):
- Entry Zone: $3,190-$3,210
- Targets:
- T1: $3,325
- T2: $3,400
- Stop Loss: Below $3,050
- Risk Score: 6/10 (manageable with tight stops).
Market Maker Analysis:
- Accumulation phase completed at $3,050.
- Distribution likely near $3,400+ (premium zone).
- Hidden Bullish Divergence: On RSI, supporting continued upward momentum.
Recommendation:
- Long position favored within the $3,190-$3,210 range.
- Monitor volume and price action as price approaches $3,325 for potential breakout toward $3,400.
- Tight risk management is key due to broader market volatility.
- Confidence Level: 7/10 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.