$ETH is showing short-term bullish momentum and could test the $3,386 resistance level. Traders should watch for confirmation of a breakout or a reversal and act accordingly. Pay attention to volume and MACD signals to gauge market direction.
Trading Strategy
1. Bullish Scenario:
A breakout above $3,386 could lead to further gains, with a potential target of $3,400 or higher. Consider entering long positions if the breakout is confirmed with increased volume.
2. Bearish Scenario:
If the price falls below $3,322 (MA(25)), it may retest the $3,300 psychological level and further decline toward $3,208. Short positions could be considered in this scenario.
3. Neutral Scenario:
Consolidation between $3,322 and $3,386 could result in range trading opportunities. Focus on buying near support and selling near resistance.
Support and Resistance Levels:
Support: $3,208.20 (24-hour low)
Resistance: $3,386.36 (24-hour high)
