TECHNICAL ANALYSIS ETH/USDT - 4H 🚀📈
Analytical model:
The 4-hour ETH/USDT chart is showing the formation of a double bottom at the key support zone around $3,355. This support level was tested and held, setting the stage for a potential price uptrend.
Indicators and technical factors:
Support zone: $3,355
Resistance zone: $3,653.79 (broken) and range from $3,838.44 to $4,137.23.
MACD: The MACD line is crossing above the signal line, showing a strong buy signal and the possibility of price increases in the near future.
Trend prediction:
ETH/USDT price broke the key resistance zone at $3,653.79 and is likely to continue rising to the next resistance levels at $3,838.44 and $4,137.23. Retesting the recently broken resistance area and creating new upward momentum will be an opportunity to enter the market.
Entry point:
Entry: $3,628 (Current Price)
TP1: $3,838.44
TP2: $4,137.23
SL: $3,355
🚀📈 Follow closely to take advantage of this opportunity! 📈🚀
DYOR
