$ETH do or die ...
ETH/USDT 4-Hour Chart Analysis (TradingView)
Key Observations:
1. Support Level: The price has touched the support zone around 2,035 - 2,042 USDT.
2. Resistance Level: The recent upward movement is approaching 2,322 - 2,350 USDT.
3. Rebound: The price has increased by 14% (approximately 287.74 USDT).
4. Technical Considerations: Fibonacci retracement or trend reversal patterns should be analyzed.
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Spot Trading Analysis
Support: The 2,035 - 2,042 level has held well, indicating a potential bullish signal.
Resistance: If the price breaks above 2,322 - 2,350, further upside movement is likely.
Entry Strategy:
Cautious Entry: Consider DCA (Dollar-Cost Averaging) in the 2,200 - 2,250 range.
Breakout Entry: A confirmed break above 2,350 could be an entry point for further upside.
Target Levels:
Short-term: 2,450 - 2,500
Mid-term: 2,700+
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Futures Trading Analysis
Long (Buy) Setup:
Entry Zone: 2,200 - 2,250
Stop Loss (SL): 2,030 (If support breaks below)
Take Profit (TP):
TP1: 2,350
TP2: 2,450
Short (Sell) Setup:
If 2,350 gets rejected, a short position can be considered below 2,300.
SL: 2,360
TP1: 2,200
TP2: 2,100
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Risk Management:
Avoid using leverage above 10x in futures due to high market volatility.
For spot trading, gradual DCA entries are preferable to minimize risk.
