🚨 $ETH Price Action: Key Levels in Focus – Significant Move Imminent! 🚨
Ethereum ($ETH ) is trading at $3,644.81, showing a decline of 1.57% over the past 4 hours. The price has pulled back from the recent high of $3,760 and is consolidating above a critical support level, signaling an impending breakout or breakdown.
Key Levels to Watch:
Immediate Support: $3,599
Holding above this level is crucial for the bulls. A break below could lead to a deeper correction.
Major Resistance: $3,760
This level is acting as a ceiling for ETH. A breakout above could indicate a bullish continuation.
Three Targets for Traders:
1. Target 1: $3,700 – A minor resistance level that ETH could test upon breaking above $3,760.
2. Target 2: $3,800 – A strong psychological barrier and potential profit zone for short-term trades.
3. Target 3: $4,000 – A major milestone for Ethereum, marking a potential new bullish rally.
Trade Setup:
Long Entry: Above $3,760, aiming for $3,700, $3,800, and $4,000.
Short Entry: Below $3,599, targeting $3,500 and $3,412.
Stop Loss: Place at $3,640 to minimize risk.
Ethereum is gearing up for its next move, so keep a close watch on these critical levels!