$ETH
/USDT Technical Analysis and Trade Strategy with Three Target levels and a Trade setup🚀🎯
Technical Analysis:
Price Action:
Current Price: $3,598.54
24h High: $3,682.01
24h Low: $3,554.32
Key Levels:
1. Support Zone: $3,554.32 (24h Low)
Rationale: Price has tested this level recently, making it a critical area for potential buying interest.
2. Resistance Zone: $3,682.01 (24h High)
Rationale: This represents the recent peak, and a break above it would suggest bullish momentum.
3. Middle Bollinger Band: $3,633.93
Rationale: Acting as a dynamic support/resistance, this level will guide the near-term trend. Prices above this indicate bullish bias; prices below indicate a bearish stance.
Trade Strategy:
1. Bearish Setup (Short Trade):
Entry: $3,630 - $3,650
Target Levels:
Target 1 (T1): $3,594.07 (Lower Bollinger Band)
Target 2 (T2): $3,554.32 (24h Low)
Target 3 (T3): $3,500 (Psychological Support Level)
Stop Loss: Above $3,670 (Resistance zone), or 1.5% above entry, whichever is more conservative.
2. Bullish Setup (Long Trade):
Entry: $3,554 - $3,580
Target Levels:
Target 1 (T1): $3,630 (Middle Bollinger Band)
Target 2 (T2): $3,673.79 (Upper Bollinger Band)
Target 3 (T3): $3,700 (Psychological Resistance Level)
Stop Loss: Below $3,540 (Support), or 1.5% below entry.
3. Breakout Setup (Aggressive Trade):
Entry: $3,690 - $3,710
Rationale: If ETH breaks above the resistance at $3,682, consider a breakout strategy with momentum, aiming for continuation.
Target Levels:
Target 1 (T1): $3,750
Target 2 (T2): $3,800
Target 3 (T3): $3,850 (Resistance level from prior price action)
Stop Loss: Below $3,670, or 2% below entry to capture risk.
Trade Setup:
1. For a Bearish Trade:
Sell Entry: $3,630 - $3,650
Targets: $3,594, $3,554, $3,500
Stop Loss: $3,670
2. For a Bullish Trade:
Buy Entry: $3,554 - $3,580
Targets: $3,630, $3,673, $3,700
Stop Loss: $3,540
3. For Breakout Trade:
Buy Entry: $3,690 - $3,710
Targets: $3,750, $3,800, $3,850
Stop Loss: $3,670