$ETH/USDT: Navigating Key Levels with Confidence!
📉 Current Price: $3,417.18 (+5.43%)
Ethereum's price action reveals a critical battle near the $3,400 support level, following a rejection from $3,555 resistance. The Bollinger Bands show reduced volatility, with the price consolidating near the lower band—signaling a potential reversal or continuation.
🔑 Key Levels to Watch:
Resistance: $3,555 (short-term), $3,600 (long-term breakout level).
Support: $3,400 (immediate), $3,206 (key breakdown zone).
📊 Trading Strategy:
1️⃣ Short-Term Opportunity:
Entry (Long): $3,420 (upon confirmation of support).
Stop Loss: $3,390 (below support).
Target: $3,500–$3,555.
2️⃣ Long-Term Perspective:
Entry (Long): Above $3,555 (clear breakout).
Stop Loss: $3,500 (to minimize risk).
Target: $3,600–$3,700.
For shorting, wait for a confirmed breakdown below $3,400 with strong volume.
⚠️ Pro Tip:
Secure partial profits at $3,500 in the short-term and trail your stop loss to maximize gains. Watch for a decisive breakout or breakdown to adapt your strategy.
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