Hello guys!
Ethereum has been rallying strongly within a well-respected ascending channel, pushing past key levels and now approaching a major resistance zone around $3,900–$4,000.
According to the chart structure, it looks like price could soon react from this resistance, leading to a pullback into the $3,000–$3,200 demand zone, which aligns with the midline of the channel.
This would be a healthy correction before potentially continuing the bullish trend and attempting a clean breakout toward new highs.
ETH is still bullish, but it may need to retest support before continuation.
Watch for a bounce from the $3,000–$3,200 zone for a high-probability long opportunity.
Ethereum has been rallying strongly within a well-respected ascending channel, pushing past key levels and now approaching a major resistance zone around $3,900–$4,000.
According to the chart structure, it looks like price could soon react from this resistance, leading to a pullback into the $3,000–$3,200 demand zone, which aligns with the midline of the channel.
This would be a healthy correction before potentially continuing the bullish trend and attempting a clean breakout toward new highs.
ETH is still bullish, but it may need to retest support before continuation.
Watch for a bounce from the $3,000–$3,200 zone for a high-probability long opportunity.
Trade active
The pointed area is touched, but the pullback is not confirmed yet!
Trade closed: target reached
close 50% of you short position here
👉 My recommended broker: bit.ly/HYMCMELI
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Telegram channel: t.me/melikatrader94
Forex telegram channel: t.me/melikatrader94GoldForex
____
Telegram channel: t.me/melikatrader94
Forex telegram channel: t.me/melikatrader94GoldForex
Related publications
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.
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram channel: t.me/melikatrader94
Forex telegram channel: t.me/melikatrader94GoldForex
____
Telegram channel: t.me/melikatrader94
Forex telegram channel: t.me/melikatrader94GoldForex
Related publications
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.