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ETHUSDT today ETH is currently trading at 2,633.61 USDT, showing a slight pullback. The chart presents a key resistance level at 2,701.53 USDT and a significant support zone around 2,574.43 USDT.
Possible Scenarios:
Bearish Rejection (Red Path): If ETH fails to break the resistance at 2,701.53 USDT, it could see a drop towards the support level of 2,574.43 USDT.
Bullish Breakout (Blue Path): Should ETH break above 2,701.53 USDT, a further upward move could be expected, indicating a continuation of the bullish trend.
Trading Strategy:
Bearish: Short positions could be considered if ETH fails at resistance, targeting the 2,574.43 USDT support zone.
Bullish: Long positions can be taken if ETH breaks above 2,701.53 USDT, targeting higher levels.
Traders should monitor the resistance and support levels closely to catch potential market moves.
ETHereumEth is booming after 2150 will it still be bullish?
With the breakout, it is now pushing itself for 2400
Meanwhile, it tested the 2400 and now it's making its way towards the lower support.
A smaller time frame showed the trend change but 1hr and 4hr is still bullish so this chance is to be of buy on dip .
As it has broken down the 0.23 of fib-retracement.
we need another confirmation for bearish which is trendline support. So re-entry would be at 0.5 and 0.6 lvl.
The first target would be 2350. once it breaks that level, we are surely moving towards 2400.
#eth #bitcoin #trendanalysis
ETHUSD Critical time ETH USD
Need to survive above the trend lines
and move higher along with RSI oversold as it happens
in near term.
Violent trend line breakdown with volume could
lead to crash.
It do or die for ETH USD.
Consolidation must happen on or around the Trend line along
with oversold if it happens.
ETH (DAILY TF) DOUBLEBOTTOMDOUBLE BOTTOM
Ah, the intriguing world of chart patterns! A double bottom is a technical analysis chart pattern that indicates a potential reversal in a downtrend. It resembles the letter "W" and occurs when the price of a security hits a low point, rebounds, declines again to the same or a similar low point, and then rebounds once more.
Here's a quick visual breakdown:
First Bottom: Price hits a low point after a downtrend.
Bounce: Price rebounds from the first low.
Second Bottom: Price declines again to the same level as the first bottom.
Second Rebound: Price rises again after the second low, often signaling the reversal of the previous downtrend.