๐ Ethereum (ETH/USD) โ Bullish Price Action Above Trendline Support
Published by Zara_Rai | 1H Timeframe | BITSTAMP
๐ Market Overview:
Ethereum is currently trading above a well-respected ascending trendline, indicating bullish momentum. Recent price action shows a strong reaction from a key support zone, signaling potential continuation to the upside.
๐ ๏ธ Trade Setup (For Educational Purposes Only):
Entry: Around 2,420 (upon confirmation of trendline support)
Take Profit 1: 2,497 โ local resistance zone
Take Profit 2: 2,707 โ extended bullish target
Stop Loss: Below 2,323 โ invalidation of trendline structure
๐ Technical Highlights:
Formation of higher lows suggests sustained bullish structure
Strong reaction from a previously tested demand zone
Increasing volume around support may confirm buyer interest
Favorable risk-reward setup for educational study
๐ Educational Disclaimer:
This analysis is shared for educational and informational purposes only and does not constitute financial advice. Please conduct your own research and apply proper risk management before taking any trades.
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