$ETH Market Trend: Pullback After Gains, Watching for Support
Trade Signal
Entry 1 (Long): $3,800 (Buy on bounce from current support zone)
Entry 2 (Long): $3,780 (Buy on deeper pullback towards lower band)
TP1: $3,820
TP2: $3,840
TP3: $3,860
TP4: $3,880
Stop-Loss: $3,620 (Below recent strong support)
Why This Trade?
Ethereum had a solid run-up but is now correcting, falling back towards previous support levels and the middle Bollinger Band. This pullback is normal after a strong move. If it finds solid support around $3,800, we could see buyers step back in for another push higher. Otherwise, it might dip further.
Support & Resistance Levels
Support: $3,800 • $3,780 • $3,760
Resistance: $3,820 • $3,840 • $3,860
Market Update for ETH (ETH)
Ethereum is currently experiencing a short-term pullback following its recent bullish run. Volume has decreased during this consolidation, indicating a pause in strong directional momentum. Traders should closely monitor the $3,800 level, as it's crucial for determining if ETH will rebound or see further correction.
