đ„đ„Trade Analysis 60: When to Enter $ETH ?
Recent Federal Reserve rate cuts have ignited a rally in both the stock market and cryptocurrencies, with Ethereum (ETH) experiencing significant price gains. However, the sustainability of this upward trend remains uncertain, leaving ETH investors questioning the future direction.
To shed some light on the potential price scenarios for ETH, let's explore two possible outcomes:
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Scenario 1: A Bullish Breakaway
If ETH's price continues to rise and surpasses the initial resistance level of $2,810, we might witness a period of consolidation before a further upward surge. However, a more explosive move, breaking through the $3,550 mark, would strongly suggest a bullish reversal and present a favorable entry point for ETH.
Scenario 2: A Temporary Dip
Conversely, if the rally loses momentum and ETH's price falls below the $2,150 support level, a deeper decline to $1,900 could be anticipated. Nevertheless, if the price forms a higher low above $2,150, it would indicate a strengthening of the support level and potentially offer a buying opportunity at a discounted price.
That's it for today $ETH Trade Analysis. I hope this analysis give you more clarification on ETH Entry and help you make smarter trade decision.
Trade Smarter! Peace Out ;)
