Hello everyone!
Bitcoin is on the rise, targeting the liquidity zone above $110,000. This brings up a key question: Will
ETHUSDT follow with a rally of its own?
In this idea, I’ll analyze the current ETHUSDT setup and highlight the key levels to watch for a potential breakout.
ETHUSDT on 4H timeframe
- The previous 4H candle closed above $2,553, which is a strong bullish signal, as this level has previously acted as firm resistance with multiple rejections.
In my view, ETH is now targeting the liquidity at the top of the falling wedge around $2,738.
If this level is successfully swept, the next likely target is $2,878, where a significant amount of liquidity sits above this swing high.
- If a quick pullback occurs, there is strong demand in the $2,338–$2,311 range, which could serve as a solid support zone. However, in my opinion, this scenario is less likely to play out at the moment.
In conclusion, ETH is well-positioned for a continuation if market conditions remain favorable.
Bitcoin is on the rise, targeting the liquidity zone above $110,000. This brings up a key question: Will
ETHUSDT follow with a rally of its own?In this idea, I’ll analyze the current ETHUSDT setup and highlight the key levels to watch for a potential breakout.
ETHUSDT on 4H timeframe
- The previous 4H candle closed above $2,553, which is a strong bullish signal, as this level has previously acted as firm resistance with multiple rejections.
In my view, ETH is now targeting the liquidity at the top of the falling wedge around $2,738.
If this level is successfully swept, the next likely target is $2,878, where a significant amount of liquidity sits above this swing high.
- If a quick pullback occurs, there is strong demand in the $2,338–$2,311 range, which could serve as a solid support zone. However, in my opinion, this scenario is less likely to play out at the moment.
In conclusion, ETH is well-positioned for a continuation if market conditions remain favorable.
Trade active
I mentioned there could be a quick dip — I hope you took advantage of this sudden drop, as the coming weeks look promising for ETH.
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.