This week, ETHUSDT has shown a significant upward movement, and there's a good chance it could continue its bullish momentum.
There are two bullish scenarios developing on ETHUSDT:
1. After a pullback, we could see an impulsive move that breaks the previous high (marked with the red arrow) and pushes the price towards the first target at 1,911 – 1,957.
2. The price could move sideways for a while, forming a bullish pennant pattern. In this case, a correction towards 1,756 – 1,731 might occur before the price resumes its move to the first target at 1,911 – 1,957.
Both scenarios remain valid as long as the price holds above 1,722.
If the second scenario plays out, the pullback to 1,756 – 1,731 can be considered a good buy zone (for those who are not in position yet).
Remember: wait for a confirmation candle before entering and place your stop-loss just below the confirmation candle.