general review
The Ethereum (#ETH🔥🔥🔥🔥 ) 3-day (3D) chart shows key support and resistance levels, as well as possible price movement scenarios. Given the launch of the Ethereum ETF, which could significantly affect the price, let's look at possible entry points, support and resistance levels, and price movement forecast.
Key support and resistance levels
Support:
2894 USDT: This level has previously served as strong support and is an important area for possible buying. 2716 USDT: The next support level that can keep the price from falling further. 2141 USDT: A major support level that has held the price several times.
Resistance:
4150 USDT: First resistance level, where the price may have difficulty rising. 4486 USDT: Second resistance level, which also coincides with the 0.27 Fibonacci level. 5125 USDT: Highest resistance level, which may be reached if there is a significant rise, especially after launch of Ethereum ETF.
Possible entry points
Long (buy):
Entry point: 2894 USDT, subject to confirmation of support and increasing volumes. Target: 4150 USDT, which corresponds to the resistance level. Stop loss: Below 2716 USDT, to minimize risks.
Short (sale):
Entry point: 4150 USDT, if resistance is confirmed and liquidations increase. Target: 2894 USDT, which corresponds to the support level. Stop loss: Above 4486 USDT to limit losses if resistance is broken.
Price movement forecast
Considering the launch of Ethereum ETF:
📅 July 2, 2024: Interest in ETH is expected to increase significantly with the launch of the first Ethereum ETF. This could cause an influx of capital and increase demand for Ethereum, causing the price to rise.
📅 July 4, 2024: Start of active trading of Ethereum ETF. This event could be a catalyst for further price growth, especially if the ETF attracts a significant amount of funds.
Conclusion
The launch of the Ethereum ETF could be an important catalyst for the price of Ethereum to rise. Monitor key support and resistance levels to make informed decisions about entering and exiting trades. Expect increased volatility in early July and be prepared for rapid price changes.
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#Ethereum#ETH #CryptoTrading#ETF📊🚀
