$ETH
/USDT Technical Analysis๐๐ฏ
Current Market Overview:
Current Price: $3,614.26
24h High: $3,760.00
24h Low: $3,554.32
Bollinger Bands: The price is nearing the middle band, which may indicate a consolidation phase before a breakout.
Parabolic SAR: The support level is at $3,560.56, signaling potential support for upward movement.
Technical Indicators:
Bollinger Bands: Price is at the middle band ($3,608.99), which could indicate either a consolidation or a reversal if the price moves toward the upper or lower bands.
Trade Strategy
Target Keys ๐ฏ
1. Target 1: Short-Term Resistance ($3,648.30
Entry: If ETH breaks above $3,648.30 (upper Bollinger Band), this will confirm a bullish breakout.
Target: $3,682.01 (previous high from the 24-hour range
Stop Loss: $3,560 (below the Parabolic SAR support level
Trade Type: Bullish breakout.
2. Target 2: Range Support & Reversal ($3,554.32)
Entry: If ETH tests and holds the $3,554.32 low, it may offer a good support zone for a reversal.
Target: $3,608.99 (middle Bollinger Band).
Stop Loss: $3,530 (below $3,554.32 support).
Trade Type: Reversal/bounce.
3. Target 3: Long-Term Bearish Break ($3,530)
Entry: If ETH fails to hold the $3,554.32 support level and breaks below $3,530, it could lead to further downside.
Target: $3,490 (next psychological support).
Stop Loss: $3,600 (above $3,554.32 support level).
Trade Type: Bearish breakdown.
Trade Setup
Bullish Setup:
Condition: Breakout above $3,648.30 (Bollinger Band Upper).
Entry Point: Enter when price crosses above the resistance.
Target: First target at $3,682.01, then monitor for a potential breakout to higher levels.
Bearish Setup:
Condition: Break below $3,554.32 (24h low) or $3,530.
Entry Point: Sell if price breaks below support, with confirmation of weakness.
Target: $3,490.
Range-Bound Setup:
Condition: If ETH is trapped between $3,554.32 and $3,648.30.
Entry Point: Buy near $3,554.32 support and sell near $3,648.30 resistance.
Target: The mid-range target of $3,608.99 for each cycle.