$ETH /USDT Technical Analysis & Trade Signal

Current Price: $3,336.67

24h High: $3,451.00

24h Low: $3,313.88

Support & Resistance Levels:

Support Level 1 (S1): $3,313.88

Support Level 2 (S2): $3,290.00 (Potential pullback zone)

Resistance Level 1 (R1): $3,451.00

Resistance Level 2 (R2): $3,500.00 (Key psychological level)

Trade Setup:

Entry Point: Around $3,335.00 to $3,340.00

Stop-Loss: Set at $3,290.00 (below S2) for a safer margin

Take Profit Targets:

Target 1: $3,400.00

Target 2: $3,450.00

Target 3: $3,500.00

Momentum & Analysis:

Market Momentum: The current trend shows a bearish correction, but ETH remains above the critical support zone. The momentum is neutral with a slight downward pressure. Watch for consolidation around the support area for potential bullish reversals.

Indicators:

RSI (Relative Strength Index): Currently neutral, indicating no overbought or oversold conditions.

MACD (Moving Average Convergence Divergence): Showing signs of potential bullish crossover if ETH breaks past resistance.

Volume: Moderate volume suggests cautious trading, with potential for more volatility as price approaches key levels.

Trade Signal:

Buy Signal: If ETH stays above $3,330 and shows signs of support, target $3,400 as an initial resistance level, followed by $3,450 and $3,500.

Sell Signal: If ETH falls below $3,300, consider a short position with targets near $3,290 and lower. Tighten stop-loss around $3,290 to avoid excessive risk.

Conclusion:

ETH has a potential to rally towards $3,400, $3,450, and even $3,500, especially if it holds above $3,330. Watch for a break above resistance or a retest of support levels to gauge trade momentum and adjust positions accordingly. Keep an eye on volume for stronger confirmation of trend continuation.

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