Hey Binance Square fam! š Your daily dose of ETH vibes has arrived! An exciting āHit the like to manifest thisā chart setup is circulatingāand weāre here to give you the full breakdown. š” Letās dive in!
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š š£ Current Snapshot
Price: ~$2,462
24āÆh Range: $2,408 ā $2,635
Market Cap: ~$297B (ranked #2 globally)
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š Pattern Overview: Pennant Meets Resistance
ETH is forming a bullish pennant on the daily chartātypically a continuation pattern after an upward move .
Key resistance zone sits between $2,645ā$2,700, where sellers have stepped in recently .
A breakout above $2,700 with volume could confirm the pennant and spark a major rally.
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š ļø Trade Setup: Going Long (or Manifest) Ethereum
Strategy Element Level(s)
Entry $2,620 ā $2,650 (on a breakout close above $2,700)
Stop-Loss (SL) $2,575 (just below the pennant bottom)
Take Profits (TP) ā¢ TP1: $2,700
ā¢ TP2: $3,000
ā¢ TP3: $3,200
ā¢ TP4: $3,400
ā¢ TP5: $3,760 (pennant measured move)
TP1 targets a retest of resistance.
TP2āTP3 aim at Fibonacci and psychological levels.
TP4 anticipates momentum continuation.
TP5 comes from the bullish pennant measured move for a full marathon.
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š What to Watch
Volume Confirmation: A breakout needs strong volume. Weak volume = false breakout risk.
100/200-day MA: ETH is testing the 200-day MA around $2.6Kābreak above strengthens momentum .
Macro & BTC Flow: Institutional ETP inflows and Bitcoin strength can boost ETH leadership .
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š§ Sentiment Check
A recent trader placed $2M in call options betting ETH hits $3,200ā$3,400 by month-end .
News momentum: Ethereum up ~5% recently on institutional buying; macro signals are flipping in its favor .
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š Final Thoughts
Ethereum is setting the stage for a powerful potential breakout. A confirmed candle close above $2.7K with volume might kickstart a rally all the way to $3,760. This chart setup is bold and intuitiveāso hit that like and manifest it into reality! š
Trade smart. Manage your SL. Ride the energy. And tag your trade setups below! šÆ
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Disclaimer: This is for educational purposes only, not financial advice. Please DYOR and manage risk. ā
