๐ ETH/USDT: Are We Eyeing a Breakout? ๐
Ethereum is climbing steadily and holding near $3,647.02. Could this be the calm before the storm? Letโs dive into the action! ๐น
๐ก Trade Analysis:
Support Zone: $3,550โ$3,600 (strong buying interest).
Resistance Zone: $3,700โ$3,750 (key breakout level).
ETH has formed higher lows, signaling a potential bullish breakout.
๐ Trade Plans:
1๏ธโฃ Breakout Trade:
๐ If ETH breaks above $3,700, the bulls could take control.
โ Entry: Above $3,700 with strong volume.
โ Stop-loss: Below $3,650.
๐ Target: $3,800โ$3,850.
2๏ธโฃ Range Trading:
๐ ๏ธ Buy near the support zone $3,550โ$3,600.
โ Stop-loss: Below $3,550.
๐ Target: $3,680โ$3,700 (resistance zone).
3๏ธโฃ Pullback Play:
If ETH fails to break $3,700, short positions could open.
โ Entry: Below $3,650.
โ Stop-loss: $3,680.
๐ Target: $3,500 or lower.
๐ Indicators to Watch:
Volume: A spike in volume could confirm a breakout.
Trend: Higher lows = Bullish momentum building.
โ ๏ธ Risk Management:
Keep risk at 1โ2% of your portfolio.
Always aim for a 1:2 or better risk-to-reward ratio.
๐ฅ Bullish Scenario: A breakout above $3,700 could see ETH soar to $3,850+.
๐ฅ Bearish Scenario: Failing to hold $3,550 might trigger a dip to $3,500.
Will ETH continue its upward journey, or is a reversal on the horizon? Let us know your trading strategy below! ๐
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