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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.
by Suyouu
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
BINANCE:ETHUSD
by SUTHARTRADE
ETH FLAG & POLE BREAKOUT RETEST A flag and pole breakout is a popular chart pattern in technical analysis, often used to identify potential continuation of a trend. Here’s a breakdown of the pattern: Components of the Flag and Pole Pattern: The Pole: This is the initial sharp move in price, either up or down, which forms the “pole” of the pattern. The Flag: Following the pole, the price consolidates in a small, rectangular range, forming the “flag.” This consolidation can be horizontal or slightly angled against the prevailing trend. Types of Flag Patterns: Bullish Flag: Occurs in an uptrend. The pole is formed by a strong upward move, followed by a consolidation period. The breakout from the flag typically signals a continuation of the uptrend12. Bearish Flag: Occurs in a downtrend. The pole is formed by a sharp downward move, followed by a consolidation period. The breakout from the flag typically signals a continuation of the downtrend3. Key Characteristics: Volume Pattern: Volume usually increases during the formation of the pole and decreases during the consolidation phase. A breakout is often accompanied by a surge in volume1. Breakout Confirmation: The pattern is confirmed when the price breaks out of the flag in the direction of the preceding trend4. Trading the Flag and Pole Breakout: Identify the Pattern: Look for a strong move (pole) followed by a consolidation (flag). Wait for the Breakout: Enter a trade when the price breaks out of the flag in the direction of the initial move. Set Targets: The target price is often estimated by measuring the length of the pole and projecting it from the breakout point12. Manage Risk: Place a stop loss just outside the flag on the opposite side of the breakout5.
Long
by Faizgazi