Bullish on $ETH 🚀
𝗕𝘂𝗹𝗹𝗶𝘀𝗵 𝗦𝗰𝗲𝗻𝗮𝗿𝗶𝗼
A breakout above the upper trendline of the symmetrical triangle and sustained movement above the 200-day EMA (3,087.90 USDT) would be strong bullish signals. This could target the next resistance levels around 3,403.77 USDT and 3,416.10 USDT.
𝗕𝗲𝗮𝗿𝗶𝘀𝗵 𝗦𝗰𝗲𝗻𝗮𝗿𝗶𝗼
If the price fails to break above the 200-day EMA and the upper trendline, and instead breaks below the lower trendline of the triangle, it could indicate a bearish move, with potential support around 2,600 USDT.
𝗥𝗲𝗰𝗼𝗺𝗺𝗲𝗻𝗱𝗮𝘁𝗶𝗼𝗻𝘀
📈 For Bullish Investors : Consider entering a long position if there is a confirmed breakout above the upper trendline of the triangle and the 200-day EMA. Set stop-loss orders just below the lower trendline to manage risk.
📉 For Bearish Investors : Monitor for a breakdown below the lower trendline for potential short opportunities. A break below 2,992.65 USDT support could target lower support levels around 2,600 USDT.
Overall, while there are bullish signals forming, caution is advised due to the mixed signals from the Supertrend and EMA. Watching for a decisive breakout from the symmetrical triangle will provide a clearer direction.
