This chart represents an Ethereum (ETH/USD) technical analysis on the 1-hour timeframe. Here’s what it indicates:
Key Points in the Chart:
1. Buy Zone (Support Area) → Around 2,000-2,050:
Price previously found strong support in this region, meaning buyers stepped in aggressively.
The chart suggests that price bounced from this area, confirming it as a demand zone.
2. Sell Zone (Resistance Area) → Around 2,400-2,500:
This zone is highlighted as a potential area where selling pressure could emerge.
Price may struggle to break above this level, making it a target for traders looking to take profit.
3. Lower Risk Sell Zone (~2,700-2,800):
This is an extended resistance area where selling could be safer with lower risk.
It suggests that if price continues to rise, a short position might be better at this level.
4. Expected Price Movement:
The blue arrows indicate a projected bullish move from the Buy Zone to the Sell Zone before a possible rejection.
Traders might look to enter long (buy) positions near the Buy Zone and exit or go short near the Sell Zone.
Trading Strategy Based on This Analysis:
Long (Buy) from Buy Zone (~2,000) → Target Sell Zone (~2,400-2,500).
**Short (
Key Points in the Chart:
1. Buy Zone (Support Area) → Around 2,000-2,050:
Price previously found strong support in this region, meaning buyers stepped in aggressively.
The chart suggests that price bounced from this area, confirming it as a demand zone.
2. Sell Zone (Resistance Area) → Around 2,400-2,500:
This zone is highlighted as a potential area where selling pressure could emerge.
Price may struggle to break above this level, making it a target for traders looking to take profit.
3. Lower Risk Sell Zone (~2,700-2,800):
This is an extended resistance area where selling could be safer with lower risk.
It suggests that if price continues to rise, a short position might be better at this level.
4. Expected Price Movement:
The blue arrows indicate a projected bullish move from the Buy Zone to the Sell Zone before a possible rejection.
Traders might look to enter long (buy) positions near the Buy Zone and exit or go short near the Sell Zone.
Trading Strategy Based on This Analysis:
Long (Buy) from Buy Zone (~2,000) → Target Sell Zone (~2,400-2,500).
**Short (
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.