Key Observations:
Strong Support Level: ETH has bounced from a strong support zone around $1,792 - $1,905.
Retest & Buy Zone: Price has broken above a key level and is now retesting it, indicating a potential buy opportunity.
Resistance Zone: A key resistance zone is marked near $2,557.71.
Target Levels: The first target is set at $2,557.71, with a possible further extension to $2,854.38.
Bullish Confirmation: If ETH maintains support above $1,981, the uptrend towards the target is likely.
Trading Idea:
Entry: Buy on successful retest.
Stop Loss: Below the strong level at $1,905 - $1,792.
Take Profit: First target at $2,557.71, extended target at $2,854.38.
This setup follows a classic breakout and retest strategy, suggesting bullish momentum if Ethereum sustains above key levels.
Strong Support Level: ETH has bounced from a strong support zone around $1,792 - $1,905.
Retest & Buy Zone: Price has broken above a key level and is now retesting it, indicating a potential buy opportunity.
Resistance Zone: A key resistance zone is marked near $2,557.71.
Target Levels: The first target is set at $2,557.71, with a possible further extension to $2,854.38.
Bullish Confirmation: If ETH maintains support above $1,981, the uptrend towards the target is likely.
Trading Idea:
Entry: Buy on successful retest.
Stop Loss: Below the strong level at $1,905 - $1,792.
Take Profit: First target at $2,557.71, extended target at $2,854.38.
This setup follows a classic breakout and retest strategy, suggesting bullish momentum if Ethereum sustains above key levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.