Ethereum will be bullish from this area, read caption.Hello everyone, hope you are doing well I have prepared this chart setup for Ethereum what are your thoughts share in comment section.
More you can read here below everything..
1. Resistance Zone (Highlighted in Red):
This area, around $3,650 , indicates a price level where Ethereum faces selling pressure. Historically, the price has reversed or struggled to break through this zone.
2. Support Zone (Highlighted in Green):
The support zone near $3,150-$3,250 acts as a strong buying area, where the price has historically bounced back upwards.
3. Entry Point:
Marked slightly above the support zone (around $3,232) , suggesting a potential long trade setup.
4. Stop-Loss (SL) Area:
Placed below the support zone (around $3,052 ), minimizing losses in case the price breaks below the support.
5. Target Zone:
Positioned at around $3,420-$3,450 , aiming for a profit once the price moves higher from the entry point.
6. Yellow Arrows:
These indicate the anticipated upward movement of Ethereum's price, assuming the support zone holds.
Geopolitical Influences on Ethereum's Price:
1. Regulatory Developments:
Cryptocurrency regulations in major markets like the U.S., EU, and China can influence Ethereum's price. For example, stricter rules on decentralized finance (DeFi) or staking might introduce volatility.
2. Global Economic Conditions:
Inflation rates, interest rate policies, and economic instability drive investors toward or away from crypto assets like Ethereum. A favorable macroeconomic environment typically boosts crypto prices.
3. Adoption Trends:
Government-backed projects or institutional adoption (e.g., CBDCs or blockchain infrastructure) can positively impact Ethereum’s demand and price.
4. Geopolitical Tensions:
Conflicts or uncertainties (e.g., wars, sanctions, or trade disputes) can push investors toward decentralized assets as a hedge against traditional markets.
5. Energy Market Influence:
Ethereum's move to Proof of Stake (PoS) has reduced energy dependency, but rising global energy prices may still indirectly impact crypto sentiment and mining-related networks.
These factors collectively influence market sentiment, trading activity, and ultimately Ethereum's price dynamics.
Key Levels;
Entry point: 3232
TP 1: 3344
Target: 3452
SL at: 3055
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