Ethereum (ETH/USDT) is currently maintaining its bullish momentum above a well-respected ascending trendline that has been active since early April. After a strong breakout above the 2347 level, the price entered a consolidation phase between 2600 and 2800, suggesting that the market is preparing for its next significant move. As of now, ETH is trading near 2627 and forming higher lows, which is a positive sign of buyer strength.
The key support zones are located at 2347 and 2266, while resistance levels to watch are 2768 and 2834. As long as the price holds above the ascending trendline, the bullish structure remains intact. A bounce from the current region, especially near the trendline, may present a favorable long opportunity. In such a scenario, a breakout above 2768 could open the path toward 2834 and potentially higher levels in the medium term.
A suitable long setup would involve entering around the 2620–2640 zone with a stop loss below 2347 to protect against trend invalidation. The first profit target can be set at 2768, and the second at 2834. However, traders should remain cautious: if ETH breaks below the trendline with strong bearish volume, the bullish outlook would weaken, and the price may revisit lower supports. Until then, the market structure favors buying the dips in alignment with the prevailing uptrend.
The key support zones are located at 2347 and 2266, while resistance levels to watch are 2768 and 2834. As long as the price holds above the ascending trendline, the bullish structure remains intact. A bounce from the current region, especially near the trendline, may present a favorable long opportunity. In such a scenario, a breakout above 2768 could open the path toward 2834 and potentially higher levels in the medium term.
A suitable long setup would involve entering around the 2620–2640 zone with a stop loss below 2347 to protect against trend invalidation. The first profit target can be set at 2768, and the second at 2834. However, traders should remain cautious: if ETH breaks below the trendline with strong bearish volume, the bullish outlook would weaken, and the price may revisit lower supports. Until then, the market structure favors buying the dips in alignment with the prevailing uptrend.
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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.