๐ฅ๐๐ญ๐ก๐๐ซ๐๐ฎ๐ฆ (๐๐๐) ๐๐ซ๐ข๐๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐๐ง๐ ๐๐ซ๐๐๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ฒ โ ๐๐๐ง๐ฎ๐๐ซ๐ฒ ๐๐, ๐๐๐๐โญ๐
Market Outlook:
Ethereum (ETH) is maintaining its bullish trajectory, currently trading near $3,412.25, reflecting a modest gain of 2.14%. If the price manages to breach the critical resistance level at $3,425.50, ETH is poised to extend its upward rally, targeting key higher levels and sustaining its positive momentum.
Trading Plan:
Optimal Entry Point:
Traders should consider entering positions around $3,400, ideally during minor price pullbacks to secure a favorable entry price.
Profit Targets:
1. Short-Term Target: $3,555.00 โ This marks an immediate resistance and offers a realistic short-term profit opportunity.
2. Mid-Term Target: $3,680.00 โ Indicates additional upside potential, aligning with the bullish market sentiment.
3. Long-Term Target: $4,000.00 โ A significant psychological and technical milestone that could attract further buying interest.
Stop-Loss Strategy:
To minimize downside risk, place a stop-loss below $3,300. A break below this level may signal a shift in market dynamics and potential trend reversal.
Risk Management Recommendations:
Given the inherent volatility of Ethereum, effective risk management is crucial. Limit exposure by allocating a controlled portion of your portfolio to this trade. Adjust your position size based on your risk tolerance and the overall market conditions to navigate potential fluctuations confidently.
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