$ETH on the brink of $2700 again – Are we seeing a new breakout coming?
Currency #Ethereum (ETH) is trading at levels of $2666 with a slight increase of +0.33% over the last 24 hours, with strong liquidity and a massive trading volume exceeding 575,000 ETH, indicating increasing interest from large investors.
Technical Analysis:
Bollinger Bands: The price is moving near the upper limit of the range, indicating a continued upward momentum but close to strong resistance.
Moving Averages: The price is above MA(5) and MA(10), confirming the upward trend in the short term.
RSI (6): At 70.9, very close to overbought territory, indicating a possibility of a slight correction.
MACD: Positive momentum is slowing down, but there is no clear signal for a reversal.
Proposed Trading Strategy (Smart Trading Within the Range)
Entry: If the price drops towards $2600 – $2630 with a positive reversal candle.
Stop Loss: Below $2560.
Profit Targets:
Target 1: $2720
Target 2: $2800
Extended Target: $2890 in case of a strong resistance breakout.
Your opinion matters to us, do you think ETH is on its way to test $3000?
