ETH/USD 4-hour bullish side analysis here read about chart description
Support and Resistance Levels:
Resistance Zone: There's a clear resistance area marked by the blue rectangle at the higher price levels. This indicates where price has struggled to break above.
Support Zone: The green rectangle shows a support area where price tends to find buying interest.
Price Action:
The price appears to be in a consolidation phase, oscillating between the resistance and support levels. This indicates indecision in the market.
The recent price movement shows a potential breakout from this consolidation, indicated by the recent candlestick formations.
Trend Lines:
An upward trend line can be seen, suggesting a bullish sentiment over the last few periods. The price is currently testing this trend line.
Potential Scenarios:
Bullish Scenario: If the price breaks above the resistance zone and closes above it, it could indicate further upward momentum.
Watch for confirmation of price action around the resistance and support levels.
Increasing volume on breakouts can indicate stronger momentum.
Always use risk management strategies when trading based on chart analysis, and consider
may be possible scenario will go for the upper side still wait for consolidation zone it may be marked to buying oppertunity