$ETH Analysis Update:
đ Trade Setup:
If ETH breaks above $2,850 with strong volume, it could continue the bullish run, with a target around $2,942.
Conversely, if it loses support near $2,822, we may see a retracement to the $2,766 support level. Hope you understand it,
đ Market Overview:
Ethereum recently faced resistance near the $2,850 level, with a slight pullback visible in the last few candles. However, the price has moved back up into a consolidation zone, hinting at a possible breakout.
Trend Strength â ETH has been holding within a bullish trend channel, as seen in the red-to-yellow bands.
Key Support & Resistance â Key resistance levels are marked at $2,850 and $2,942, with support around $2,766.
RSI Reading â The RSI is currently around 79, indicating an overbought condition. This could suggest a potential pullback if the upward momentum weakens, so keep an eye on this indicator.
đ Risk Management Tip:
Always set a stop-loss, especially if ETH moves below $2,822, to manage downside risk. Use lower leverage in these high-volatility zones for better capital protection.
đ Reminder: This post is for informational purposes only. Always do your own research before making any trades! #ETHđ„đ„đ„đ„
