$ETH 1 Day Analysis 📈

Current Price: 2,871.04 USDT

Key Levels:

* Resistance: 2,970 - 3,000 USDT

* Support: 2,660 USDT

Analysis:

Ethereum (ETH) is currently approaching a crucial resistance zone between 2,970 and 3,000 USDT. This level has historically acted as a major barrier, and we're closely monitoring for either a rejection or a breakout.

Scenario 1: Rejection at Resistance

* If ETH fails to break through the 2,970 - 3,000 USDT resistance, a pullback towards the support level at 2,660 USDT is likely.

* Strategy:

* Short Position: Consider a short position if the price shows signs of rejection at the resistance, targeting 2,660 USDT.

* Stop Loss: Place a stop loss above the resistance zone, around 3,010 USDT.

Scenario 2: Breakout Above Resistance

* If ETH successfully breaks out above 2,970 - 3,000 USDT with strong volume, the next target range is between 3,200 and 3,500 USDT.

* Strategy:

* Long Position: Enter a long position upon confirmation of a breakout, targeting 3,200 - 3,500 USDT.

* Stop Loss: Place a stop loss below the breakout level, around 2,950 USDT.

Conclusion:

* Rejection at 2,970 - 3,000 USDT: Expect a move towards 2,660 USDT.

* Breakout above 2,970 - 3,000 USDT: Aim for 3,200 - 3,500 USDT.

Risk Management:

* Always use stop-loss orders to manage risk.

* Adjust position sizes according to your risk tolerance.

Stay tuned for further updates and adjust your strategy based on market conditions. Happy trading! 📈