$ETH Analysis and Prediction
Technical Outlook: $ETH is consolidating after a strong uptrend, trading below the key resistance level of $3,428. A minor retracement to $3,351 suggests that bulls are attempting to defend the support zone. If the price breaks above $3,428, it could signal the continuation of the bullish trend, targeting higher levels.
Key Levels to Watch:
Resistance: $3,428 (A breakout here can target $3,500)
Support: $3,351 (Critical level to maintain bullish momentum; failure here may lead to $3,300)
Trading Signal:
Long Entry Zone: $3,360 - $3,400
Targets:
Target 1: $3,428
Target 2: $3,500
Stop Loss: Below $3,340
Market Behavior: ETH has been showing strong volume, indicative of buyer interest. However, the price action near $3,428 could face resistance due to profit booking or bearish entries. Maintaining momentum above $3,400 will be critical for continuation.
Actionable Strategy: Traders can consider entering near the support zone of $3,360-$3,400, aiming for a breakout above $3,428. Partial profit-taking at $3,428 is advisable, with a secondary target at $3,500. Use a stop loss below $3,340 to mitigate risk.