Ethereum (ETH/USD) : Breaking Resistance and Heading Higher 🚀
#ETHUSDT #etherium #ETHUSD #Write2Earn #BinanceSquareFamily
Entry Point : $3401.10
Target : $3529.73
Stop-Loss : $3356.07
Technical Analysis :
Ethereum (ETH/USD) has demonstrated strong bullish momentum, breaking above a key resistance zone after multiple tests.
Support Zones :
Strong support established at $3338, touched twice, confirming its validity as a bounce-back level.
Resistance Breakout :
ETH broke the $3400 resistance level decisively, marking a trend continuation.
Key Observations :
ETH/USD is in a clear uptrend, characterized by higher highs and higher lows.
Previous resistance at $3400 is now acting as support, providing a cushion for further upward movement.
Target price is set at $3529.73, with potential for a stronger rally if volume supports the move.
Trading Insights :
Risk Management :
Tight stop-loss at $3356.07 minimizes downside risk.
Entry at $3401.10 ensures a favorable risk-reward ratio.
Indicators Support Bullishness :
The Supertrend indicator confirms bullish alignment.
Price action reflects robust buying interest above resistance.
Pro-Tip for Investors :
Scaling Entries : Consider scaling into the position at key levels like $3400 for reduced risk exposure and improved returns.
Conclusion :
ETH/USD's breakout above resistance signals strong bullish momentum. The next target at $3529.73 looks achievable, provided the market maintains its upward trajectory. Traders should manage their positions wisely and remain patient for higher levels.