TECHNICAL ANALYSIS ETH🔥🔥🔥
Ethereum is currently around $4,200, showing a still favorable technical trend for a bullish trade. From a technical point of view, ETH has surpassed the historical resistance at $4,000, now turned into key support, with a potential take profit target at $4,400 $ and subsequently $4,800, levels to monitor for possible breakouts.
The recommended entry for a trade is around $4,200, with a prudent stop loss set just below the support at $3,900, to limit risk in case of reversal. The take profit can be set in two phases: the first target at $4,400 $ for a partial close, and the second at $4,800 $ for a more aggressive exposure, considering a possible extension towards the all-time high levels.
Technical indicators such as the RSI, around 68-72, suggest an overbought phase but not yet extreme, while the MACD remains positive although with signs of slowing down. The EMA 50 and EMA 100 moving averages remain below the price, indicating established bullish strength.
In summary, ETH at $4,200 $ represents a good entry point with a stop loss at $3,900 $ and take profit at $4,400 $ and $4,800, balancing opportunities and risk in a possible continuation of the bullish cycle.
Please always operate with low leverage and always set the stop loss.
