$ETH
♠️ ETHUSDT trading signal
🟢 Strong long signal
Entry price: 2624.1 (current price)
Stop loss: 2571.6 (-2.00%)
Profit target:
1. 2663.5 (+1.50%)
2. 2702.8 (+3.00%)
3. 2742.2 (+4.50%)
4. 2781.5 (+6.00%)
Reason:
1. The liquidation map shows that long funds are highly concentrated, especially in the 2600-2700 range.
2. 100x and 50x leverage long orders form strong support in the 2550-2600 range.
3. There are relatively few short orders above 2700, and there is not much pressure from above.
4. The amount of long funds obviously exceeds that of shorts, and the proportion of high-leverage long orders is high, indicating a strong bullish sentiment in the market.
5. There are many long orders in the 2800-2900 range, which may be an important target.
Notes:
1. Although the long signal is strong, it is still recommended to use a small position, not exceeding 3% of the total funds.
2. Pay close attention to the 2700 resistance level, and consider adding a small position after breaking through.
3. Adopt a step-by-step profit-taking strategy to reduce a part of the position at each target price.
4. If it falls below the 2550 large long order support level, consider exiting the market in advance.
5. As the second largest cryptocurrency, ETH's trend is greatly affected by Bitcoin, and it is also necessary to pay attention to the development and upgrade news of the Ethereum ecosystem.
6. Pay attention to potential callback risks, especially when approaching recent highs.
7. Pay attention to changes in gas fees and activity of the Ethereum network, which may affect short-term price trends.