Ethereum ($ETH /USDT) Technical Analysis
Current Price: $2,669.85
Resistance: $2,680.00
Support: $2,660.00
Ethereum's price is currently consolidating between the key resistance at $2,680 and support at $2,660. This range-bound movement suggests that the market is at a decision point.
Breakout Possibilities:
Bullish Breakout:
If the price breaks above the $2,680 resistance, it could trigger a bullish move towards the $2,700 level. Traders may consider entering long positions above $2,680 with targets around $2,690 and $2,700, and a stop loss below $2,660.
Bearish Breakdown:
A break below the $2,660 support could lead to a bearish move towards the $2,640 level. In this scenario, short positions could be initiated below $2,660 with targets at $2,650 and $2,640, and a stop loss above $2,680.
This analysis highlights a critical area of interest for traders, with a clear plan for both bullish and bearish scenarios. Monitoring the price action around these levels will be key to capturing potential opportunities.
#BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek #LowestCPI2021
