$ETH

Testing Channel Boundaries: Breakout Potential & Support Strength 📈

On the 4h timeframe, $ETH is currently trading around $1827, showing a slight decrease of -0.33%. The 24h high is $1849, with a trading volume of 220K ETH and 404M USDT. The price action is currently near the lower green support line at $1816 within an ascending channel.

✅ Key Observation:

#ETH is testing the lower boundary of its ascending channel. A strong bounce here could lead to a retest of the upper resistance.

Next Potential targets (if bounce and breakout occur):

🎯 $1840 (potential immediate resistance)

🎯 $1873 (red resistance line - significant resistance to break)

🎯 $1920 (upper boundary of the ascending channel)

🛡️Important Support Level (lower boundary of the channel):

🛡️ $1816 (lower green support line - crucial support to hold)

🛡️ $1790 (further support level)

🛑 Stop Loss:

Consider setting a stop loss below the $1816 support level to protect against a potential channel breakdown.

Buy and trade here on $ETH