$ETH /USDT Analysis – Consolidating at $3,315
Ethereum (ETH/USDT) is currently trading at $3,315.07 (-0.92%), showing slight downward pressure as it consolidates between key support and resistance levels. The price is attempting to stabilize after a dip, with immediate resistance and support levels clearly defined.
Key Levels:
Resistance: $3,350, $3,390
Support: $3,280, $3,200
Entry Points and Targets:
Long Trade (if price breaks above $3,350):
Entry Range: $3,350–$3,360
Target 1: $3,390
Target 2: $3,450
Stop Loss: $3,300
Short Trade (if price breaks below $3,280):
Entry Range: $3,270–$3,280
Target 1: $3,240
Target 2: $3,200
Stop Loss: $3,350
Market Highlights:
24H High: $3,390.68
24H Low: $3,204.60
Volume: 747,421.21 ETH, signaling strong trading activity.
Analysis:
Ethereum remains in a consolidation phase after testing a 24-hour low of $3,204. A break above $3,350 would suggest renewed bullish momentum, while a failure to hold $3,280 could lead to further downside. Bulls need to reclaim $3,350 to confirm a reversal.
Pro Tip:
Monitor the $3,280 level for a potential breakdown or bounce. Use stop-losses effectively to manage risk during high volatility periods.
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