$ETH /USDT
Trend Direction: Sideways (consolidation after a recent upward move)
Entry Zone: 4,200 - 4,240
Stop Loss: Below 4,150
Target 1: 4,360 (recent high and resistance level)
Target 2: 4,500 (psychological level and potential breakout target)
Price Action Summary: Currently, there's a struggle between buyers and sellers. While buyers are attempting to defend the 4,200 level, sellers are pushing the price down from the recent high of 4,366.46. The MAs are converging, indicating a potential shift in momentum or continued consolidation.
Breakout Level: A decisive breakout above 4,366.46 is needed for a strong bullish continuation.
Final Advice: The market is showing indecision. It is advisable to wait for a clear breakout above 4,366.46 or a breakdown below 4,150 with significant volume before taking a position. A long entry can be considered in the specified entry zone with a tight stop-loss, but be aware of the sideways consolidation and potential volatility. Confirmation with volume is crucial for any move.