ETHUSD

2 days ago

Observations and Analysis:
Trend Analysis:

The current uptrend is evident as Ethereum (ETH/USD) is making higher highs and higher lows.
The current price is around $3,935, reflecting a strong upward trend.
Key level to watch:
$4,000–$4,050 as the next significant milestone that aligns with previous highs.
Key Levels:

Premium Zone (Resistance): Around $4,000–$4,100.
This area represents potential resistance, where profit-taking or increased selling pressure may occur.
Equilibrium Zone: Around $3,500–$3,600.
A strong support zone; if the price retraces, this could act as a buying opportunity.
Discount Zone (Strong Support): Around $3,000–$3,200.
This represents the lower range where buyers may aggressively step in.
Indicators:

The upward-sloping Moving Average supports continued bullish momentum.
Change of Character (ChoCH) and Break of Structure (BOS) signals near $3,700–$3,800 confirmed a transition to a bullish market structure, further reinforcing the uptrend.
Volume:

High trading volume during the recent rally above $3,800 shows strong buying interest, particularly near key breakout levels.
Conclusion and Recommendations (USD-specific):
Current Price: $3,935.

The instrument is showing an uptrend with strong bullish momentum.
Resistance Zone:

If the price moves toward $4,000–$4,100 (premium zone), there might be resistance and potential consolidation or a short-term pullback.
Support Zones:

Look for strong support at $3,500–$3,600 (equilibrium zone) if the price retraces.
Deeper retracement could find buyers at the $3,000–$3,200 level (discount zone).
Trading Recommendations:
For Long Positions:

If price breaks above $4,100, this could confirm continued bullish momentum, offering a long entry with a target of $4,200+.
Alternatively, wait for a retracement to the $3,600 level (equilibrium) for a safer entry.
For Short Positions:

Watch for reversal signs (e.g., bearish candles or volume divergence) near the $4,000–$4,100 resistance zone.