$ETH
/USDT Technical Analysis and Trade Strategy🚀🎯
Current Price: $3,719.20
24h High: $3,722.63
24h Low: $3,500.00
Technical Indicators Overview:
Bollinger Bands (20, 2):
Upper Band: $3,745.40 (resistance)
Middle Band (MA): $3,638.77 (support in the short term)
Lower Band: $3,532.14 (potential reversal point)
Parabolic SAR: $3,637.58 (indicating potential short-term support)
Key Levels:
Support: $3,532.14 (lower Bollinger Band) and $3,500.00 (24h low)
Resistance: $3,745.40 (upper Bollinger Band)
Trade Strategy:
Scenario 1: Bullish Reversal (Price Bounces from Support)
Entry: Look for price to bounce from the $3,532.14 (lower Bollinger Band) or $3,500 level.
Target 1: $3,638.77 (Middle Band / SAR) – This is the first area where the price could find some resistance.
Target 2: $3,722.63 (24h High) – If the price continues to climb, it may test the recent high.
Target 3: $3,745.40 (Upper Bollinger Band) – The final resistance point where the price could face a significant hurdle.
Stop Loss: Below $3,500 – If the price breaks below this level, it suggests a bearish move.
Scenario 2: Bearish Breakdown (Price Breaks Support)
Entry: If the price breaks below $3,532 or $3,500, consider entering short positions.
Target 1: $3,450 (A key psychological level and previous support).
Target 2: $3,400 – A deeper correction could bring the price to this level.
Target 3: $3,350 – Further downside testing towards significant support.
Stop Loss: Above $3,638 – If the price breaks back above the Middle Band, the bearish setup may be invalidated.
Conclusion:
If ETH maintains above $3,532 or bounces off $3,500, a bullish move to $3,745.40 is likely.
If the price breaks below $3,532, watch for a potential bearish continuation targeting $3,350.