$ETH
Eth/USDT Price Movement: Trading Levels & Strategy 🚀
Long Position (Bullish Breakout)
Entry Point: $3,028.53 (current price near the breakout level).
🔻 Stop Loss: $2,963.65 (below the recent swing low and key support).
Take Profit:
🎯 Target 1: $3,260 (immediate resistance).
🎯 Target 2: $3,275 (next major resistance).
Risk/Reward Ratio: Approximately 1:2.5.
Technical Analysis
Chart Pattern:
A descending triangle pattern is observed with
a breakout above the resistance line.
The price is breaking out of the descending trendline, suggesting bullish momentum.
Key Levels:
Resistance Levels: $3,260 (immediate resistance and target area). $3,275 (major supply zone above the breakout).
Support Levels: $3,003 (breakout level and immediate support). $2,963 (major support, previous low).
Indicators:
Parabolic SAR:
Bullish signal with dots below the price, confirming upward momentum.
Volume:
Monitor for volume confirmation to validate the breakout.
Trendline Break:
Clear upward breakout from the descending trendline.
