ETH/USDT 1H: Bullish Breakout Holding – Next Stop $2,175?
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Current Market Conditions (Confidence: 8/10):
LONG Trade Setup:
Risk Score:
Market Maker Activity:
Recommendation:
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Current Market Conditions (Confidence: 8/10):
- Price at $2,043, maintaining strong momentum following a breakout.
- RSI at 67.54, approaching overbought territory but still has room for continuation.
- Clear break above previous resistance at $1,925, confirming bullish structure.
- No significant bearish divergences present, reinforcing continuation potential.
LONG Trade Setup:
- Entry: $2,035 - $2,045 zone.
- Targets:
- T1: $2,100 (short-term resistance).
- T2: $2,175 (extended target).
- Stop Loss: $1,925 (below recent support).
Risk Score:
- 6/10 – Lower risk due to strong structure, but resistance at $2,200 remains a key level to
Market Maker Activity:
- Accumulation evident at higher levels, with minimal selling pressure.
- Clean breakout above resistance suggests further bullish continuation.
- Key resistance ahead at $2,200, with strong support at $1,875.
Recommendation:
- Long positions remain favorable within the $2,035 - $2,045 entry range.
- Watch $2,100 and $2,175 for profit-taking zones.
- Monitor volume on the approach to $2,200 to confirm breakout strength.
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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.