$ETH

ETH Breaks Upwards: Trend Reversal or False Move?

Brothers, ETH's recent operations are quite interesting, directly breaking upwards through the downtrend line. Could the bears be defeated? Hold on, let's analyze the key points to see whether we should jump in or wait a bit.

ETH Bulls Slight Victory, Targeting a Rise to $4098?

Current Highlights of the Trend:

ETH successfully broke through the downtrend line, indicating that buyers are a bit aggressive. If the price can firmly stay above the trend line, there might be two steps ahead:

First, a push towards $3900.

Then, testing $4098, which is a key resistance area, where sellers are likely to defend strongly.

What to do after the breakout?

Short Term: If the price stabilizes on the trend line, it is suitable to gradually enter near the trend line at $3460, targeting the $3900-$4098 range.

Bears Still Have a Chance, Pay Attention to Key Support!

But brothers, don't overlook another possibility: If the bulls can't hold, and the price falls back below the trend line, it indicates that the bears are still exerting strong pressure, and we need to be cautious.

First Support Level: Watch the 20-day moving average ($3262). If this level can't hold, ETH may head straight for $3000.

Bear Strategy: If the price returns below the trend line, open short positions on rebounds, targeting $3200, and after breaking that, look for $3000.

Final Summary: Stay Calm, Differentiate Between Long and Short Opportunities

Brothers, the key points for ETH are:

Maintain the strong bullish pattern above the trend line, targeting $3900-$4098.

If the trend line is broken, bears take control, targeting $3200 or even $3000.

Remember when trading, don't rush to chase, wait for a pullback or confirmation of a breakout before entering. Having a plan and strategy makes a true expert!