Market Context:
ETH has shown strong performance against BTC, attempting to break a significant monthly downtrend on the ETH/BTC chart. This potential breakout could lead to a substantial bullish move for ETH. Against USD, ETH is at a major resistance band around $3,500. A break above this level could attract more bullish interest. Key support levels to watch for ETH are $3,380, $3,330, and $3,250.
Trade Setup:
Entry: Enter a trade at the current resistance band around $3,500 or on a pullback to key support levels ($3,380, $3,330, and $3,250) if the resistance breaks.
Take Profit: Set profit targets at $3,700, $4,100, and $4,350.
Stop Loss: Place the stop loss just below the key support at $3,250 to manage potential downside risk.
📊 Monitor the ETH/BTC chart and USD levels closely, and adjust your strategy accordingly! #ETH #CryptoTrading #BreakoutStrategy 🎯
ETH has shown strong performance against BTC, attempting to break a significant monthly downtrend on the ETH/BTC chart. This potential breakout could lead to a substantial bullish move for ETH. Against USD, ETH is at a major resistance band around $3,500. A break above this level could attract more bullish interest. Key support levels to watch for ETH are $3,380, $3,330, and $3,250.
Trade Setup:
Entry: Enter a trade at the current resistance band around $3,500 or on a pullback to key support levels ($3,380, $3,330, and $3,250) if the resistance breaks.
Take Profit: Set profit targets at $3,700, $4,100, and $4,350.
Stop Loss: Place the stop loss just below the key support at $3,250 to manage potential downside risk.
📊 Monitor the ETH/BTC chart and USD levels closely, and adjust your strategy accordingly! #ETH #CryptoTrading #BreakoutStrategy 🎯
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.
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.