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$ETH Technical Analysis June 03, 2025: PRICE BREAKS ABOVE $2,635.94 WITH STRONG BULLISH MOMENTUM 🔥
📊 Market Insight
• Current Price: 2,635.94 USDT
• Moving Averages (MAs) indicate a bullish trend.
• Volume has increased, reflecting significant buying activity.
• MACD shows a strong bullish signal.
• RSI values are in overbought territory.
📊 Important Levels to Watch
🔼 Resistance Levels:
2,649.91 (recent 24h high)
2,658.98
2,700.00 (psychological resistance)
🔽 Support Levels:
2,592.48 (recent intraday low)
2,525.99 (previous significant support)
2,468.56 (next major support)
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $2,649.91
☑️ Entry Point: $2,650.50 (enter if price breaks above 2,649.91 with bullish momentum confirmation)
🎯 Price Target:
TP1: $2,658.98
TP2: $2,700.00
🛑 Stop Loss: $2,640.00 (below the recent support to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 2,649.91, sustained high volume, RSI(6) remaining above 70, and a MACD bullish crossover with DIF moving further above DEA.
🐻 Bearish Trade Setup: Breakdown below $2,592.48
☑️ Entry Point: $2,590.00 (enter if price breaks below 2,592.48 with bearish momentum confirmation)
🎯 Price Target:
TP1: $2,525.99
TP2: $2,468.56
🛑 Stop Loss (SL): $2,600.00 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 2,592.48, sustained high volume, RSI(6) falling below 50, and the MACD showing a bearish trend with DIF dropping below DEA.
📌 Suggestion to Open Positions Today:
With RSI in overbought territory, traders should be cautious of a potential reversal. Consider entering a bullish position if the price breaks above $2,649.91 with confirmation, but monitor for signs of overextension. For a bearish setup, wait for a clear breakdown below $2,592.48. Use tight stop losses and keep an eye on RSI and volume for momentum shifts.
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