The correction is over! After a pullback from the 3040 highs, ETH has hammered out a solid bottom and established a beautiful, new uptrend. The bulls are clearly back in control and are steadily pushing the price higher.
Don't let the previous volatility fool you; the momentum has shifted, and the path of least resistance is now firmly to the upside. $ETH
๐ The Bullish Case (Why The ETH Rally Is Real)
๐น Solid Bottom Established: A definitive bottom was formed around the $2920 level, where selling pressure was completely absorbed by strong buyers.
๐น New Uptrend Confirmed: The chart shows a textbook bullish structure with a clear, sustained pattern of higher highs and higher lows. This is the definition of a healthy rally.
๐น Sustained Momentum: This is not a frantic pump but a steady, powerful climb, indicating consistent buying interest and a strong belief in higher prices.
๐น Excellent Risk/Reward: Joining this confirmed uptrend now offers a fantastic risk-to-reward ratio, with a clear path to re-test the previous major highs. $ETH
๐ The Trade Recommendation:
This is a classic "buy the uptrend" setup after a confirmed reversal. We are buying into confirmed bullish strength.
โ BUY: In the current zone of $2995 โ $2998
๐ฏ TP1: $3020
๐ฏ TP2: $3040
๐ SL: $2950 (A secure stop below the recent swing low)
๐ฅ The Bottom Line: The reversal is complete, the new uptrend is strong, and the momentum is on our side. This is your chance to ride the powerful wave up as ETH looks to reclaim its highs and beyond.
๐ Do you think ETH will break $3040 this week? Let me know! ๐
โค๏ธ Like if you're bullish on ETH, and follow for more powerful setups.
#ETH #ETHETFsApproved #ETHETFS
