1. Main Trend:
Price is breaking upwards after a sideways phase.
The 200-period moving average (green) is holding as long-term support, while the 50-period (red) has just been crossed decisively to the upside, confirming a potential bullish reversal in the short/medium term.
2. Key Levels:
Main support: 2,550 USDT (at 50 MA, just broken to the upside).
Immediate resistance: 2,660–2,700 USDT (previous high). A breakout above this range would confirm a trend continuation.
Breakout: The move is confirmed by increasing volume on the latest green candle.
3. Technical Indicators:
RSI: Currently at 65.82, close to overbought (70), but still has room to rise. No bearish divergences.
MACD: MACD line is above the signal line, and the histogram is increasing—bullish signal.
Volume: Rising during the breakout, indicating genuine participation.
4. Risk/Opportunity — Suggested Trading Signal:
Direction: Long (bullish)
Entry: 2,630 USDT (current price or slight retracement to 2,600–2,615 USDT)
Stop-loss: 2,545 USDT (below the 50 MA and last support, to avoid false breakouts)
Take profit 1: 2,700 USDT (first key resistance)
Take profit 2: 2,780 USDT (previous highs on the chart)
Confidence: Medium–High
Both the technical breakout and confirmation from the main indicators support the signal. Watch for RSI approaching overbought.
Additional notes:
Basic pattern: Bullish breakout from sideways consolidation.
No bearish short-term formation.
Macro factors: Monitor crypto market volatility; risk of retracement if traditional markets weaken.
Summary (required format):
Asset: ETHUSDT
Direction: Long
Entry: 2,630 USDT (or minor pullback to 2,615 USDT)
Stop-loss: 2,545 USDT
Take-profit: 2,700 USDT (TP1), 2,780 USDT (TP2)
Confidence: Medium–High
Additional notes: Breakout confirmed by high volume, bullish MACD, watch for short-term RSI overbought. For a more conservative strategy, wait for a confirmation above 2,660 USDT before entering.
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.