Ethereum Analysis - February 1, 2025
Long Trades (Buy):
• $3,300 Level:
If the price retraces to this level and shows signs of a bullish reversal, it could serve as a good entry point for buy trades. Targets in this case would be $3,350 and then $3,400.
• $3,400 Level:
If the price breaks above the $3,400 resistance level and stabilizes, further upward movement toward $3,450 and then $3,500 can be expected.
Short Trades (Sell):
• $3,350 Level:
If the price fails to break the $3,350 resistance and shows signs of a bearish reversal, this level could be a potential entry for sell trades. Targets in this scenario would be $3,300 and then $3,250.
• $3,300 Level:
If the $3,300 support is broken and the price moves downward, short trades targeting $3,250 and then $3,200 would seem reasonable.
Note: This analysis reflects current market data and is not financial advice. Always conduct your own research and use proper risk management strategies before entering any trades.$ETH $XRP
