Ethereum / TetherUSUpdated ETH/USDT: Breakout Signals Strong Bullish Momentum
Ethereum (ETH/USDT) is currently trading around $3,354.45, showing strong bullish momentum after breaking out of a descending trendline. The breakout indicates a shift in sentiment, with bulls regaining control as the price clears key resistance levels.
The blue support zone near $3,057-$3,148 acted as a strong foundation for the rally, propelling ETH past the orange resistance zone around $3,200-$3,250. The price is now approaching a critical resistance at $3,373, which could determine the next major move.
If ETH successfully breaks above $3,373, it may target higher levels near $3,500 and beyond. However, if the price faces rejection, a pullback toward the orange zone around $3,200 could provide a retest opportunity before further upside.
Traders should consider buying on pullbacks near the $3,200 zone or on a confirmed breakout above $3,373, with a stop-loss below the $3,148 support level. Ethereum's bullish structure suggests potential for higher highs in the short term.
The blue support zone near $3,057-$3,148 acted as a strong foundation for the rally, propelling ETH past the orange resistance zone around $3,200-$3,250. The price is now approaching a critical resistance at $3,373, which could determine the next major move.
If ETH successfully breaks above $3,373, it may target higher levels near $3,500 and beyond. However, if the price faces rejection, a pullback toward the orange zone around $3,200 could provide a retest opportunity before further upside.
Traders should consider buying on pullbacks near the $3,200 zone or on a confirmed breakout above $3,373, with a stop-loss below the $3,148 support level. Ethereum's bullish structure suggests potential for higher highs in the short term.
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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.