Hello guys...
Ethereum has broken out of its long-term descending channel and is currently trading inside a smaller ascending channel, showing strong bullish momentum. After a "fake breakout" below major support around $1,400, ETH quickly reclaimed higher levels, suggesting a bear trap.
Currently, ETH is approaching the critical resistance zone around $2,000. As long as the price stays inside this rising structure and continues making higher lows, the bias remains bullish toward a test of the major resistance.
✅ A clear breakout above $2,000 could trigger a stronger move up.
⚠️ However, if the structure breaks down, we should watch for potential pullbacks.
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Key Levels to Watch:
Ethereum has broken out of its long-term descending channel and is currently trading inside a smaller ascending channel, showing strong bullish momentum. After a "fake breakout" below major support around $1,400, ETH quickly reclaimed higher levels, suggesting a bear trap.
Currently, ETH is approaching the critical resistance zone around $2,000. As long as the price stays inside this rising structure and continues making higher lows, the bias remains bullish toward a test of the major resistance.
✅ A clear breakout above $2,000 could trigger a stronger move up.
⚠️ However, if the structure breaks down, we should watch for potential pullbacks.
___________________________
Key Levels to Watch:
- Support: $1,720–$1,750 zone
- Resistance: $2,000–$2,050 zone
Trade active
The long position is activated!
👉 My recommended broker: bit.ly/HYMCMELI
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Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: 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: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: 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.