Ethereum's current price is $2,968.90 with a market cap of $337.16 billion. Here's a breakdown of potential strategies:
Short-Term Strategy
- *Entry Point*: Consider entering a long position if ETH breaks above $2,764.37 with high volume.
- *Target Price*: Set a target price at $2,879.22.
- *Stop-Loss*: Set a stop-loss at $2,704.22 to manage risk.
Swing Trading Strategy
- *Accumulation Zone*: Accumulate ETH on dips near $2,704.22, which aligns with the pivot level and middle Bollinger Band.
- *Target Price*: Hold positions targeting the resistance at $2,879.22.
Long-Term Strategy
- *Fundamentals*: Ethereum's dominance in DeFi and staking growth make it a strong long-term investment.
- *Key Levels*: Monitor the $2,945-$2,965 band for potential support retests. A successful hold here could trigger a push above $3,081, targeting $3,200 and then $3,525.
Key Indicators
- *RSI*: Currently indicating moderate momentum with a reading of 59.99.
- *MACD*: Showing bullish momentum with a flattening histogram.
- *Bollinger Bands*: Expanding, indicating trend acceleration . #ShariaEarn #ArbitrageTradingStrategy #TradingStrategyMistakes $SOL