๐ Ethereum (ETH/USD) 4H Analysis โ Preparing for a Major Bullish Move! ๐โก
๐ Chart Overview:
Ethereum is currently forming a bullish structure on the 4H timeframe, setting up for a potential strong rebound from the key support zone between $2,385 โ $2,434. The chart projects a two-leg correction followed by a rally toward $2,787 โ $2,859 resistance, suggesting bullish momentum is building. ๐๐ฅ
๐ Key Technical Insights:
๐ง Major Support Zone ($2,385โ$2,434)
This orange support block has been tested multiple times and is holding well. Itโs a strong demand area where buyers are likely to step in again.
๐ต Current Price Action:
ETH is hovering around $2,519, with a possible dip toward the lower support zone before triggering a bounce. The bullish projection path (dotted line) suggests price may establish a higher low and begin a fresh uptrend. ๐โก๏ธ๐
๐ช Strong Resistance Ahead ($2,787โ$2,859)
A large resistance cluster lies ahead, where previous rejections occurred. This zone will be critical โ a clean break above could lead to significant upside continuation.
๐ Structure Overview:
Mid-range level: $2,679 (key pivot point)
Short-term resistance: $2,679
Target zone: $2,787โ$2,859
Potential retracement base: $2,434โ$2,385
๐ Projection Arrow:
Chart suggests a dip then a rally with potential bullish breakout โ traders watching for a bullish confirmation pattern (double bottom, bullish engulfing, or breakout candle).
๐ง Conclusion:
ETH is nearing a buy zone for swing traders! A strong bounce from $2,434โ$2,385 could offer a lucrative long opportunity toward the $2,850 region. A break above that resistance could open the door to a new bullish leg. ๐๐
๐ Trade Setup Idea:
๐น Entry: $2,440โ$2,500
๐ฏ Target: $2,787 โ $2,859
๐ก๏ธ SL: Below $2,385