$ETH

Technical Analysis

Ethereum's breakout from the accumulation zone is supported by several bullish indicators:

Chart Pattern: Accumulation Breakout / Range Breakout

Structure: ETH has broken out from a prolonged consolidation zone (~$2,800 resistance), confirming bullish intent.

Volume & Momentum: Likely increase in volume at breakout level, indicating strong buying interest.

Ichimoku Context: Price trading above the cloud, confirming bullish bias.

Key Technical Levels:

Entry Zone: Around $2,800 (breakout level)

Immediate Resistance / Target 1: Approximately $3,500

Major Resistance / Target 2: Approximately $4,500

Support Zone: Around $2,600 (below breakout level and cloud base)

Invalidation Level (Stop-Loss): Below $2,500 (loss of structure support)

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🎯 Trading Strategy

Considering the current technical setup, traders might look for entry points near the $2,800 level, anticipating a potential move towards the $3,500–$4,500 range.

Suggested Trade Parameters:

Entry Point: Buy near $2,800

Stop Loss: Set at $2,500 to manage risk

Take Profit:

Target 1: $3,500

Target 2: $4,500

This strategy aims to capitalize on the expected continuation of the bullish trend, with a favorable risk-reward ratio.

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⚠️ Disclaimer

This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile, and it's crucial to conduct your own research (DYOR) and consult with financial advisors before making investment decisions.

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Stay informed and happy trading! 📈

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