ETH/USDT 4H Analysis: Bullish Momentum Targets $3,700 ResistanceETH/USDT 4H Chart Analysis
Breakout confirmed: ETH has broken above the key resistance at $3,200, supported by strong bullish momentum and volume confirmation.
Current price: $3,441.
Key levels:
Support: $3,200-$3,250 (established as a strong base).
Resistance: $3,700-$3,800 (next major zone to watch).
Recent reclaim: $3,200 (significant resistance flipped to support).
Market structure: ETH's structure has flipped bullish, with higher lows forming, indicating sustained upward momentum.
Trade setup:
Entry: Current level ($3,441) or on a pullback near $3,250.
Target: $3,700 (major resistance zone).
Stop loss: Below $3,200 to minimize downside risk.
Risk-to-reward: Favorable setup with significant upside potential if $3,700 target is achieved.
Confidence level: 8/10, suggesting a strong probability of continued bullish movement.
Considerations:
Momentum check: Ensure volume remains high to support the upward move.
Risk management: Keep the stop loss tight to limit losses but avoid premature stop-outs.
Resistance zone watch: Monitor price action around $3,700-$3,800 for potential profit-taking or rejection.
This setup aligns with a bullish outlook, but caution is advised near resistance zones. Always manage risk effectively.
