🔥 ETH/USDT: Trade Analysis & Strategy 🔥
Ethereum (ETH) is showing strength, trading at $3,632.13, up 4.73% in the last 24 hours. The 4-hour chart suggests bullish momentum is building. Let’s analyze and develop a winning strategy!
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Key Observations
1. Resistance & Support Levels:
Immediate Resistance: $3,650 (recent high).
Support Zone: $3,550 (last breakout level).
2. Trend & Momentum:
ETH has successfully broken out of its previous consolidation zone, hinting at bullish continuation.
Higher lows are forming, indicating an uptrend structure.
3. Volume Analysis:
The 24H volume of 1.21B USDT and increasing participation highlight market confidence in ETH’s upward movement.
4. Technical Indicators:
RSI approaching 70, signaling potential overbought conditions but still room for growth.
Strong SMA-9 support on this time frame.
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Trading Plan
Scenario 1: Bullish Continuation
Entry: Buy above $3,650 if a breakout occurs with strong volume.
Target 1: $3,750.
Target 2: $3,850 (extended rally).
Stop-Loss: $3,600 (below breakout level).
Scenario 2: Retest Opportunity
Entry: Accumulate near $3,550 if ETH pulls back to test support.
Target 1: $3,650.
Target 2: $3,750.
Stop-Loss: $3,500.
Scalping Plan
For intraday traders:
Buy near $3,620 and sell near $3,650 for quick gains.
Tight stop-loss below $3,600.
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Risk Management
Limit exposure to 2-3% of your trading capital.
Stick to the stop-loss to protect against sudden reversals.
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Engage & Discuss!
Do you think ETH can break through $3,650 and aim for $3,750 or higher? Or are we due for a pullback? Share your thoughts below and trade wisely!
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