Ethereum (ETHUSDT) - 30M Chart Trade Setup Analysis
1. Trend & Market Structure:
ETH is in a downtrend, forming lower highs & lower lows.
Price recently bounced from a demand zone (gray box), signaling potential reversal or retracement.
Currently testing resistance (red line & 200 EMA), which is a key level to watch.
2. Trade Setup Details:
Buy Entry: Near 2,698-2,701
Stop-Loss (SL): Below 2,647 (under the previous low)
Take-Profit (TP): 2,776-2,848 (major resistance levels)
3. Confluences for the Long Setup:
✅ Demand Zone Rejection: Price bounced from strong support (gray box).
✅ Breakout Attempt: Testing the 200 EMA & trendline resistance—a breakout could fuel an upside move.
✅ Risk-Reward Ratio: ~1:3, which is a good trade setup.
4. Confirmation Needed:
If price closes above 2,701 on a strong candle → More bullish confirmation.
If price fails to break 2,701 and forms a wick → Possible rejection & continuation of downtrend.
Final Thoughts:
Bullish Scenario: If price breaks above 2,701 & 200 EMA, ETH can rally towards 2,776 & 2,848.
Bearish Scenario: If price rejects 2,701, expect a retest of 2,647 & 2,603 (previous lows).
Best Approach: Wait for strong confirmation above 2,701 before fully committing.
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