Trade Setup: Ethereum (ETH) Long PositionMarket Context:
Ethereum CRYPTOCAP:ETH is expected to remain a strong trade in the coming weeks due to the ETF narrative. Two main factors support this belief:
Institutional Inflows: Institutions are likely to provide seed money, ensuring strong flows into the ETH spot ETF.
Reduced Selling Pressure: There will be less selling pressure from Grayscale’s ETHE compared to their GBTC, as ETHE shares will be converted into the ETH trust on a 1:1 ratio.
Trade Setup:
Entry: Enter a trade at $3,000.
Take Profit:
First target: $3,250
Second target: $3,530
Third target: $3,700
Stop Loss: Set the stop loss just below $2,900.
Strategy Overview:
This strategy hinges on the anticipated positive impact of institutional involvement and reduced selling pressure, positioning ETH for potential gains in the coming weeks.
📊 Monitor market developments and adjust your strategy as needed! #Ethereum #CryptoTrading #ETFNarrative 🎯
