ETH/USD 4-hour chart analysisInstrument: ETH/USD (Ethereum vs. US Dollar)
Timeframe: 4-hour chart
Current Price: Around $1,825
Support Zone: $1,815 - $1,654 (marked in red)
Entry Point: Likely around $1,824.95 (highlighted near the buy setup)
Targets:
1st Target: Around $2,105.89
2nd Target: Around $2,227.71
3rd Target: Around $2,551.64
Final Target: Around $2,730.15
Stop Loss: Likely below $1,815 or around $1,654 (lower red zone)
The trade setup suggests a potential long (buy) trade if price confirms a reversal from the support zone. Let me know if you need further analysis.
Support Levels (S):
1. $1,815 - $1,825 → Strong support zone (current entry area)
2. $1,654 → Major support level (stop-loss area)
Resistance Levels (R):
1. $2,105 - $2,127 → First resistance (Take Profit 1)
2. $2,551 → Second resistance (Take Profit 2)
3. $2,750 - $2,800 → Final resistance (strong supply zone)
These levels act as potential bounce or rejection points. If price holds above support, an upward move is likely, but a break below could trigger a bearish trend. Let me know if you need further insights!