Trading Signal Alert: $ETH /USDT (1-Hour Chart)

Overview:

Ethereum (ETH) has shown recent upward momentum, climbing from a 24-hour low of $3,534.28 to a high of $3,726.71. Currently, it trades at $3,675.47, indicating some retracement after testing the resistance level.

Price Action:

Support Level: $3,595

Resistance Level: $3,735

ETH is consolidating just below its recent resistance, suggesting potential for a breakout if buying volume increases.

Trade Setup:

Entry Price: $3,670 - $3,680 (on confirmation of momentum above $3,675)

Take-Profit Targets:

1. $3,720

2. $3,750

3. $3,800

Stop Loss: $3,590 (to manage downside risk)

Cautionary Note:

Traders should monitor ETH's price action near the resistance zone at $3,735. A strong breakout with volume could lead to significant upward movement, while rejection at resistance may result in a pullback to the $3,595 support level.

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