ETH Next Big Move: Retrace or Rally?
This chart illustrates Ethereum's (ETH) price action against Tether (USDT) on a daily timeframe, showcasing significant levels of support and resistance, along with a potential scenario for future price movements. The blue zone represents a previous resistance level, now acting as a critical support zone $2,821.56 to $2,763.95. The chart highlights a strong breakout above a long-term descending trendline, suggesting a shift in market sentiment from bearish to bullish. The green zone above, $3,441.19 to $3,505.50 marks a strong resistance level that ETH has been testing but failing to break decisively.
The purple zone around $3,100 serves as an intermediate support, where the price may retrace before attempting another upward move. The red projected path suggests a consolidation or pullback into this zone before a bullish rally toward the higher resistance zone at $3,900. Traders are likely watching for signs of strength at the $3,100 level, which could provide a favorable entry, while a break below this support might signal further downside risk. The overall sentiment leans bullish as long as the price remains above the key support zones.
The purple zone around $3,100 serves as an intermediate support, where the price may retrace before attempting another upward move. The red projected path suggests a consolidation or pullback into this zone before a bullish rally toward the higher resistance zone at $3,900. Traders are likely watching for signs of strength at the $3,100 level, which could provide a favorable entry, while a break below this support might signal further downside risk. The overall sentiment leans bullish as long as the price remains above the key support zones.
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.