Hello Binance Square family! š
Let's delve into the 12-hour analysis of ETH1! (CME Ether Futures), where technical patterns suggest a promising upward trajectory.
---
š Current Market Snapshot
Current Price: $2,461.0
24H Range: $2,400.0 ā $2,500.0
Trend: Bullish momentum with recent breakout
Key Support: $2,400.0
Key Resistance: $2,500.0
---
š Technical Overview
ETH1! is currently exhibiting a bullish trend on the 12-hour timeframe. The price has recently broken above the resistance level of $2,400.0, indicating potential for further upward movement. Technical indicators such as the RSI and MACD support this bullish outlook, with the RSI approaching overbought territory and the MACD showing a bullish crossover.
---
š Trade Setup
Entry Point: $2,450.0
Stop-Loss: $2,400.0
Take-Profit Targets:
šÆ TP1: $2,500.0
šÆ TP2: $2,550.0
šÆ TP3: $2,600.0
šÆ TP4: $2,650.0
šÆ TP5: $2,700.0
---
ā ļø Risk Management
Risk-Reward Ratio: Approximately 1:2
Position Sizing: Consider allocating 1ā2% of your portfolio to this trade.
---
š Final Thoughts
The recent breakout above $2,400.0 suggests that ETH1! may be poised for further gains. Traders should monitor the price action closely, especially around the resistance level of $2,500.0. A sustained move above this level could confirm the bullish trend and open the path to higher targets.
---
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
---