June 10 ETH Analysis
Since the price has risen from 1750 to its current level, it has been in a high-level sideways consolidation for exactly one month. The longer the horizontal movement, the higher the vertical movement will be. The 4-hour SAR indicator turned bullish in the early morning. Those who are familiar with this indicator know that the last bullish trend went from 1650 all the way to 2490. For those who missed out last time, it's time to reclaim everything this time, not for any other reason, but because we believe Ethereum will catch up. In the short term, due to the emergence of a top formation, we still need to be cautious of a pullback. It's safer to buy near the support levels.
Support levels: 2620, 2557
Resistance levels: 2726, previous high resistance
Main direction: Bullish
Since we still expect a pullback in the short term, we can place a short position near 2695, take profit around 2630, and then open a long position until the 4-hour SAR indicator reverses. This long position is a medium to long-term position, so be sure to control your position size when entering the market.
AXL WIF NEIRO
