Analysis Update
ETH has broken through the $2,800 level and is now targeting $3,800. This bullish move comes after positive news and a clean break of a key supply zone.
Here's what you need to know:
* Entry Range: We didn't hit our original entry range, but the price has already moved up.
* Target 1 (TP1): The price has reached TP1, a significant supply zone that has now been cleared.
* Target 2 (TP2): The next target is $3,800. We expect the price to pull back towards the green box before making this move.
* Invalidation Level: A close below $2,549.63 would invalidate this bullish analysis.
Risk Management:
* Stop Loss: Always use a stop loss to protect your investment.
* Capital Management: Don't risk more than you can afford to lose.
* Take Profit: When the price reaches TP1, consider taking some profits and moving your stop loss to your entry price.
Questions?
Feel free to leave a comment if you have any questions.
Thank You!
Additional Information:
* Technical Analysis: The 8-hour chart shows a strong bullish trend with a clear uptrend.
* Fundamental Analysis: Positive news about Ethereum's future development has helped to fuel the bullish move.
* Market Sentiment: The overall market sentiment for Ethereum is bullish.
Conclusion:
ETH is in a strong bullish trend and is likely to continue moving higher in the short term. However, it is important to remember that the market is always volatile, and prices can change quickly. Always use stop losses and capital management to protect your investment.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Please do your own research before making any investment decisions.
Binance Square Family
We hope this analysis has been helpful. If you have any questions, please feel free to leave a comment. We are always happy to help.
Thank you for your support!