On the 2-hour ETH/USD chart, a potential bullish structure is forming. The current price is around $1,595, sitting just above a key support zone at $1,588.
After a period of consolidation, Ethereum appears poised for a breakout that could lead to a move towards the $2,000-$2,050 range.
Trade Setup:
Entry Zone: $1,590 - $1,600
Stop Loss: $1,547 (below key support level)
Target: $2,000 - $2,050
Risk to Reward Ratio: Approx. 1:3+
Analysis:
ETH previously experienced a strong correction but is now forming higher lows, suggesting a potential trend reversal. If the current support holds, we could see a solid bullish push.
Additionally, indicators like MACD and RSI are showing early signs of bullish divergence, supporting the case for upside momentum.
Disclaimer:
This is an educational idea and not financial advice. Always do your own research and use proper risk management.
After a period of consolidation, Ethereum appears poised for a breakout that could lead to a move towards the $2,000-$2,050 range.
Trade Setup:
Entry Zone: $1,590 - $1,600
Stop Loss: $1,547 (below key support level)
Target: $2,000 - $2,050
Risk to Reward Ratio: Approx. 1:3+
Analysis:
ETH previously experienced a strong correction but is now forming higher lows, suggesting a potential trend reversal. If the current support holds, we could see a solid bullish push.
Additionally, indicators like MACD and RSI are showing early signs of bullish divergence, supporting the case for upside momentum.
Disclaimer:
This is an educational idea and not financial advice. Always do your own research and use proper risk management.
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Get powerful Forex & Crypto signals, live analysis, and expert strategies — all shared directly on our Telegram Channel.
Join the community and trade smarter every day.👇👇
t.me/Liam_JonesCryptoFXTrader
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.
Upgrade Your Trading with Us
Get powerful Forex & Crypto signals, live analysis, and expert strategies — all shared directly on our Telegram Channel.
Join the community and trade smarter every day.👇👇
t.me/Liam_JonesCryptoFXTrader
Get powerful Forex & Crypto signals, live analysis, and expert strategies — all shared directly on our Telegram Channel.
Join the community and trade smarter every day.👇👇
t.me/Liam_JonesCryptoFXTrader
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.