The Swing Trading strategy is one of the most prominent methods for achieving medium-term profits, and it is suitable for traders who do not prefer to follow the markets in real-time. This strategy relies on taking advantage of price movements that extend over several days or weeks, rather than rapid day trading.
- Practical application on the ETH/USDT pair:
Currently, Ethereum is trading around $2,485.16 according to Binance data, after reaching a high of $2,569 and a low of $2,476 in the last 24 hours. The weekly chart shows a horizontal trading pattern, indicating a consolidation phase that may precede a strong price movement in either direction.
- How to apply Swing Trading on ETH:
Identify support and resistance levels: current resistance at $2,560 and main support at $2,420.
Monitor momentum indicators like RSI (currently at 61.15) and MACD (at 92.20), as they provide moderate positive signals.
Place a stop-loss order below support to reduce risks, and enter the trade only after confirming a break of resistance or support.
- Current opportunity:
If resistance at $2,560 is broken with strong trading volume, the price may target the $2,780 level.
If the breakout fails, we may see a pullback towards $2,380 to test support again.
✍️ Do you think this phase is suitable for applying the Swing Trading strategy on Ethereum?
Or is waiting for a confirming movement the safer option?
