ETH/USDT 1H: Bulls Charge Toward $3420 After Breaking Key LevelsETH/USDT 1H Chart Analysis
๐ Follow me on TradingView if you respect our charts ๐Daily charts!
Current Market Structure:
Bullish trend confirmed after breaking previous high at $3280.
RSI: Hidden Bullish Divergence at 58.80, aligning with price momentum.
Volume Confirmation: Strong buying pressure supports the breakout.
Smart Money Levels:
Support: $3180 (Previous Consolidation High - PCH).
Resistance: $3340 (Premium Zone).
Key Level: $3246 (acting as equilibrium).
Trade Setup (Confidence 8/10):
Entry Zone: $3246 - $3250.
Targets:
T1: $3340
T2: $3380
T3: $3420
Stop Loss: Below $3175 (under PCH).
Risk Score: 7/10 (favorable Risk/Reward).
Market Maker Intent:
Accumulation phase completed at lower levels.
Currently in markup phase, targeting premium zones.
Volume Profile: Indicates strong institutional demand, supporting continuation.
Recommendation:
Long positions favored in the $3246 - $3250 range.
Watch for volume confirmation above $3280 for added confidence.
Maintain tight stops below $3175 to minimize downside risk.
Confidence Level: 8/10 for bullish continuation.
๐ Follow me on TradingView if you respect our charts ๐Daily charts!