TECHNICAL ANALYSIS ETHEREUM 🔥🔥🔥
ETH, with an current price of about $4,620, shows a very interesting technical situation for a trade in the short-medium term. ETH continues its bullish momentum within an impulse wave, after breaking a key resistance around $4,500, which now acts as solid support. This breakout has strengthened the bullish pressure, pushing the price towards the next important resistance levels at $4,800 and subsequently at $5,000-$5,200, indicative targets with the continuation of the movement.
From a technical standpoint, indicators like the RSI highlight overbought conditions, suggesting the possibility of a consolidation phase or slight correction before further push. The MACD confirms strong bullish momentum and the short and long-term moving averages are positioned below the price, supporting the trend.
For a trade with entry at these levels, around 4,630.$ , it is advisable to set the stop loss at $4,400, to protect against a possible return below the key support. The take profit can be set at $5,000, near the psychological and technical resistance.
Suggested trading strategy:
Entry: $4,620 - $4,630
Stop loss: $4,400
Take profit: $5,000
This strategy sees a good risk-reward ratio at this time of strong volatility and bullish momentum of ETH, always monitor the volumes and key levels for any timely adjustments. I advise you never to enter a position with all the capital you wish to invest so that you can better manage the position in case of sudden pullbacks.
Please always operate with low leverage and always set the stop loss.
