đ Ethereum (ETH/USDT) - Approaching Key Resistance Levels đ
ETH/USDT is trading at $2473.51, showing steady recovery as it heads toward key resistance zones. The chart displays bullish momentum, with recent buying pressure from lower levels propelling the price back into an upward trajectory.
đ„ Key Observations:
Bullish OBs: Important buy zones established at $2422.00 and $2415.35, which provided support during the recent pullback.
Overhead Resistance: ETH faces resistance around $2500.00, with a further barrier at $2686.00 - $2729.54 if the upward trend continues.
Trendlines: The green ascending trendline is supporting the current bullish structure, while the red descending trendline represents potential resistance.
đŻ Long Setup:
đ Entry for Long: Consider entering a long trade if ETH breaks above $2473.51 with sustained buying pressure.
đŻ Take Profit Targets for Long:
1. TP1: $2500.00 â Key psychological level.
2. TP2: $2686.00 â Mid-resistance zone.
3. TP3: $2729.54 â Retest of the upper high.
đĄïž Stop Loss for Long: Place a stop loss below $2422.00 to limit risk on potential pullbacks.
đ Short Setup (If Rejected at Resistance):
đ Entry for Short: If ETH shows rejection around $2473.51 - $2500.00, it may provide a shorting opportunity.
đŻ Take Profit Targets for Short:
1. TP1: $2422.00 â Strong support level.
2. TP2: $2352.57 â Deeper pullback zone.
3. TP3: $2334.43 â Extended target if bearish momentum increases.
đĄïž Stop Loss for Short: Position the stop loss above $2500.00 to manage potential breakout risks.
đ Market Sentiment: Ethereum is showing promising signs of recovery, but the resistance at $2500.00 will be critical. A breakout above this level could signal further bullish momentum, while rejection may lead to consolidation or a short-term retracement.
