$ETH Potential Scenarios
1. Bullish Scenario:
If ETH/USDT breaks above $3,171.09 and sustains the momentum, it could target the next major resistance at $3,219.97. Higher trading volume would further support this breakout.
2. Bearish Scenario:
A failure to break above $3,171.09 might result in a pullback toward $3,123.56 or even retest the $3,034.99 support zone.
Support: The price has established strong support at $3,034.99. A sustained move above this level indicates buyers are stepping in.
Resistance: The immediate resistance level is $3,171.09. A breakout above this could pave the way for a rally toward $3,219.97.
Trading Strategies
Short-Term Traders:
Look for opportunities to enter long positions if the price breaks and sustains above $3,171.09. Place stop-loss orders below $3,123.56 to manage risk.
Long-Term Traders:
Consider holding positions if ETH maintains a positive trend above the 99-day moving average. A clear break above $3,219.97 could indicate a stronger upward trend.
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