ETH/USDT 4-Hour Chart Analysis & Trade Plan
Market Overview:
On the 4-hour chart, ETH/USDT is displaying signs of consolidation with a potential breakout above the $3,400 level. The price has been forming higher lows since December 25, indicating growing bullish momentum. Volume is gradually increasing, supporting the possibility of an upward continuation.
The current price sits at $3,420.48 (+0.94%), with ETH attempting to push past a key resistance zone near $3,450. If successful, this could open the doors for a significant bullish move.
---
Key Levels:
Support Levels: $3,300 and $3,250.
Resistance Levels: $3,450 and $3,500.
---
Trading Strategy:
1. Entry Plan:
Enter above $3,450 after a confirmed breakout with a strong 4-hour candle close.
2. Stop Loss:
Place at $3,300 to protect against false breakouts.
3. Take Profit Targets:
First Target: $3,500
Second Target: $3,550
Extended Target: $3,600 if bullish momentum strengthens.
---
Risk Management:
Risk no more than 2% of your trading portfolio on this trade.
Adjust the stop loss to breakeven once the price reaches $3,500 to lock in profits.
---
Analysis:
The 4-hour chart signals a potential trend reversal following weeks of consolidation. If ETH/USDT can break and sustain above $3,450, it could attract more buyers and lead to a rally towards $3,500 and beyond. Watch for volume confirmation and momentum indicators like RSI to confirm the breakout.
Conclusion:
ETH/USDT is on the verge of an exciting move, with the $3,450 level acting as the key breakout zone. A strong bullish breakout from this level provides an excellent opportunity for swing traders to capture the next wave of momentum.
Trade smart, follow your plan, and manage risks effectively.
#ETH #TradingStrategies💼💰 #TradingSignals #TradersAnalysis #Ethereum