$ETH Trade plan Market Context:
Current Price: $2,580
24h High: $2,738.75
24h Low: $2,525.91
RSI (6): 47.67 (Neutral, close to oversold territory on lower timeframes)
Recent High: $2,738.75
Support Zone: $2,525 – $2,555 (recent low & minor consolidation area)
Resistance Zone: $2,685 – $2,738 (previous top)
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Analysis
Price is retracing from a recent high, finding support around the $2,590–$2,600 zone.
RSI is recovering slightly from sub-40 levels, suggesting early signs of potential upward momentum.
Overall structure shows a higher high and a pullback, which may lead to a higher low if support holds.
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Potential Long Setup (Short-term)
Entry: Between $2,605 – $2,615 (wait for a small bullish candle confirmation on 15m or 1h timeframe)
Stop Loss: Below $2,585 (protect against breakdown from support; ~1.2% risk)
Take Profit Targets:
TP1: $2,670 (local minor resistance)
TP2: $2,725–$2,735 (previous high)
TP3 (Aggressive): $2,750+ (if breakout with volume)
Risk-Reward Estimate (TP1):
Risk: ~$30
Reward: ~$55
RR: ~1.8:1 (TP1); up to 4.5:1 for TP3
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Alternative Scenario: Short if Support Fails
Entry: Break below $2,585
Stop Loss: Above $2,610
Target: $2,555 (short-term); $2,525 for extended
#ETHETFsApproved
