hello guys.
let's analyze Ethereum coin.
1. Price Action & Market Structure:
- The price has been in a downtrend, followed by a strong bounce from a key support level around 2,527.05 USDT.
- A bullish channel has formed as the price is making higher highs and higher lows, indicating a potential recovery in progress.
2. Key Levels:
- Flip Area: The chart notes a flip area where the price was expected to move downward but instead failed to do so, suggesting this level has turned into a strong support.
- Target Area: The chart identifies a target area of around 3,081.55 USDT. This area is likely a resistance level where the price could encounter selling pressure if it continues to rise.
3. Bullish Channel:
- The price is moving within a rising channel, with a potential bullish continuation if the channel is maintained. The channel suggests the price could continue to rise, with pullbacks likely finding support near the lower trendline of the channel.
- The chart projects a possible movement pattern within this channel, suggesting the price may pull back slightly before moving higher toward the target area.
4. Projection:
- The price is likely to continue its upward trajectory within the bullish channel, with a potential target around 2,816.25 USDT first and then 3,081.55 USDT.
- A break below the channel could indicate a potential bearish reversal while maintaining the channel, which could see further upside.
Summary in Bullet Points
- Bullish Channel: Price is currently moving in a rising channel, indicating a bullish recovery.
- Key Support: Strong support around 2,527.05 USDT, previously expected to push the price down, has held firm.
- Resistance Levels: Watch for potential resistance at 2,816.25 USDT and the target area around 3,081.55 USDT.
- Outlook: As long as the price stays within the channel, the outlook remains bullish with possible targets above.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
let's analyze Ethereum coin.
1. Price Action & Market Structure:
- The price has been in a downtrend, followed by a strong bounce from a key support level around 2,527.05 USDT.
- A bullish channel has formed as the price is making higher highs and higher lows, indicating a potential recovery in progress.
2. Key Levels:
- Flip Area: The chart notes a flip area where the price was expected to move downward but instead failed to do so, suggesting this level has turned into a strong support.
- Target Area: The chart identifies a target area of around 3,081.55 USDT. This area is likely a resistance level where the price could encounter selling pressure if it continues to rise.
3. Bullish Channel:
- The price is moving within a rising channel, with a potential bullish continuation if the channel is maintained. The channel suggests the price could continue to rise, with pullbacks likely finding support near the lower trendline of the channel.
- The chart projects a possible movement pattern within this channel, suggesting the price may pull back slightly before moving higher toward the target area.
4. Projection:
- The price is likely to continue its upward trajectory within the bullish channel, with a potential target around 2,816.25 USDT first and then 3,081.55 USDT.
- A break below the channel could indicate a potential bearish reversal while maintaining the channel, which could see further upside.
Summary in Bullet Points
- Bullish Channel: Price is currently moving in a rising channel, indicating a bullish recovery.
- Key Support: Strong support around 2,527.05 USDT, previously expected to push the price down, has held firm.
- Resistance Levels: Watch for potential resistance at 2,816.25 USDT and the target area around 3,081.55 USDT.
- Outlook: As long as the price stays within the channel, the outlook remains bullish with possible targets above.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
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👉 My recommended broker: bit.ly/HYMCMELI
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Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
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Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.