$ETH Analysis : Key Levels to Watch! 🚨
📊 Trade Setup
Potential Entry: Watch for a breakout above $3,035 for a possible upside move, or a breakdown below $3,000 for shorting opportunities. Stop Loss (SL): For longs, set SL below $3,000; for shorts, set SL above $3,035.Take Profit (TP) Targets:TP1: $3,114.47 (upside target)TP2: $2,867.77 (downside target)
Hope you understand this setup!
Ethereum is currently trading in a critical zone, suggesting a potential shift in momentum. Here’s a breakdown of the key levels and trade opportunities for ETHUSDT. 👇
Immediate Resistance: $3,114.47
Immediate Support: $2,867.77
📌 Indicators & Analysis:
Heikin Ashi Candles: Currently showing mixed candles, indicating some indecision in price direction. Wait for clearer momentum to confirm the trend.
Support & Resistance Zones: ETH is consolidating around the middle of its range. This could mean a test of either the upper resistance at $3,114 or the lower support at $2,867.
Stochastic RSI: The oscillator is approaching oversold levels around 6, suggesting potential upside if the indicator reverses. Monitor for a cross above 20 to confirm bullish momentum.
Price Action: Current consolidation around $3,000 could indicate a potential breakout. A clear move beyond the range could dictate the next strong direction.
👉 Final Thoughts: ETH is at a pivotal level. A breakout could lead to strong momentum in either direction, so watch closely and stay disciplined with entries and SL placements.