$ETH /USDT Analysis ๐
๐ฅ Key Resistance Zone:
ETH is trading well above an important daily support zone but is struggling to break the 3550 level, which is acting as a significant resistance. This zone has consistently rejected price attempts, showing strong seller activity. ๐
๐ Bullish Outlook:
Market Structure: On higher timeframes, ETH is showing strength with higher lows, signaling potential bullish momentum. ๐
A breakout above 3550 would invalidate the resistance and could lead to an explosive move higher! ๐
๐ฏ Targets:
Short-term: A breakout could push ETH to the 3600โ3650 range.
๐คLong-term: Sustained bullish pressure might take ETH toward 3800 or even higher levels. ๐
๐ Market Context:
Look for bullish confirmations like strong green candles or volume spikes near the resistance zone. ๐น
Beware of fakeouts, especially during periods of high volatility. โ ๏ธ
๐ก Trading Tip:
Breakout Entry: Enter after a confirmed close above 3550, ensuring strong volume backs the move. ๐
Pullback Opportunity: If rejected, watch for support around 3450โ3500 for a better entry. ๐
Always use stop-loss orders to protect your capital! ๐ก๏ธ
(This is my analysis. Always DYOR! ๐ค)