Ethereum (ETH/USD) - Potential Reversal Setup Based on Technical
Ethereum (ETH/USD) has been in a strong downtrend, as indicated by the descending channel (highlighted in yellow and red). However, price action is showing signs of a potential reversal, breaking out of the bearish trend and entering a bullish recovery phase.
Key Technical Insights:
Downtrend Channel Breakout: ETH has successfully broken out of the descending channel, signaling a potential trend reversal.
Support Zone: The $2,104 - $2,165 level has acted as a strong support, preventing further downside.
Entry Zone: A long entry setup is identified around $2,266, where price action is stabilizing.
Resistance Levels: Key resistance zones to watch are around $2,500 - $2,600. A break above these levels could confirm a further uptrend.
Target Price: Based on Fibonacci retracement and historical resistance levels, the potential target is $2,600.
Trade Setup:
Entry Price: $2,266
Target Price: $2,600
Stop Loss: Below $2,165
Risk/Reward Ratio: Favorable setup with a good upside potential
Conclusion:
Ethereum is showing bullish strength after a prolonged downtrend, with strong indications of a potential reversal. Traders should monitor price action near key resistance levels for confirmation of the uptrend. A breakout above $2,500 would further support bullish momentum toward the $2,600 target.
📌 Trade with proper risk management and monitor key resistance zones for confirmation! 🚀
Key Technical Insights:
Downtrend Channel Breakout: ETH has successfully broken out of the descending channel, signaling a potential trend reversal.
Support Zone: The $2,104 - $2,165 level has acted as a strong support, preventing further downside.
Entry Zone: A long entry setup is identified around $2,266, where price action is stabilizing.
Resistance Levels: Key resistance zones to watch are around $2,500 - $2,600. A break above these levels could confirm a further uptrend.
Target Price: Based on Fibonacci retracement and historical resistance levels, the potential target is $2,600.
Trade Setup:
Entry Price: $2,266
Target Price: $2,600
Stop Loss: Below $2,165
Risk/Reward Ratio: Favorable setup with a good upside potential
Conclusion:
Ethereum is showing bullish strength after a prolonged downtrend, with strong indications of a potential reversal. Traders should monitor price action near key resistance levels for confirmation of the uptrend. A breakout above $2,500 would further support bullish momentum toward the $2,600 target.
📌 Trade with proper risk management and monitor key resistance zones for confirmation! 🚀
Trade ativo
Trade is active! Bulls are gaining strength—watch resistance levels for confirmation! 🚀Trade fechado: objetivo atingido
Our Target Reached 
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.