1.Support and Resistance Zones:
Blue areas below the current price tend to provide support, limiting downward moves.
Red areas above the current price act as resistance, limiting upward moves1.
2.Recent Movement:
ETH recently broke out of a downtrend line after being stuck for over 15 days.
We’re currently retesting this breakout level2.
3.Technical Patterns:
ETH formed a flag pattern, broke it, and then created a potential head and shoulders pattern.
The blue line area could be a good long position entry point with a target around $4,6312.
4.Market Context:
Consider the overall market sentiment and other factors before making trading decisions.
Always do thorough research and manage risks when trading cryptocurrencies2.
:Remember that technical analysis provides insights, but market conditions can change rapidly. Happy trading! 🚀💡
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