Ethereum (ETH/USD) has reached a critical demand zone around $1,550 - $1,580, where strong buying interest has previously shown support. After a consistent downtrend, the price is now showing early signs of bullish reversal on the 2-hour chart.
If this level holds, a potential move towards the target area of $1,920 - $1,970 is likely. This area aligns with previous structure resistance and could act as a take-profit zone.
Key Highlights:
Entry Zone: $1,550 - $1,580
Target Zone: $1,920 - $1,970
Timeframe: 2H
Setup Type: Trend Reversal / Swing Trade
Risk Management: Always use a tight stop-loss below the demand zone
Idea: Wait for a bullish confirmation (like a strong bullish candle or pattern) before entering. This setup offers a favorable risk-to-reward ratio if the support holds.
If this level holds, a potential move towards the target area of $1,920 - $1,970 is likely. This area aligns with previous structure resistance and could act as a take-profit zone.
Key Highlights:
Entry Zone: $1,550 - $1,580
Target Zone: $1,920 - $1,970
Timeframe: 2H
Setup Type: Trend Reversal / Swing Trade
Risk Management: Always use a tight stop-loss below the demand zone
Idea: Wait for a bullish confirmation (like a strong bullish candle or pattern) before entering. This setup offers a favorable risk-to-reward ratio if the support holds.
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.