Bullish View on ETHUSDT
Trade:
Buy ETH Perpetual future at $2050
Stop Loss: $2000
Target: $2110
Payoff:
Max Profit: $60/ETH
Max Loss : $40/ETH
Rationale:
The recent price movement in ETH has convincingly breached the resistance level at 1850, and gave a swing high of 2125. Now the price is attempting to retrace towards its foundational or demand zone regions.
An encouraging sign is that ETHUSDT has maintained its support levels while retracing, further bolstering our confidence in its performance.
Examining the daily chart, it’s evident that the price is consistently adhering to established support / demand zones. This steadfast adherence underscores the robust buyer sentiment in the market.
Trade:
Buy ETH Perpetual future at $2050
Stop Loss: $2000
Target: $2110
Payoff:
Max Profit: $60/ETH
Max Loss : $40/ETH
Rationale:
The recent price movement in ETH has convincingly breached the resistance level at 1850, and gave a swing high of 2125. Now the price is attempting to retrace towards its foundational or demand zone regions.
An encouraging sign is that ETHUSDT has maintained its support levels while retracing, further bolstering our confidence in its performance.
Examining the daily chart, it’s evident that the price is consistently adhering to established support / demand zones. This steadfast adherence underscores the robust buyer sentiment in the market.