🚨 Ethereum Breaks Key Resistance – Bullish Signal! 🚨
After weeks of consolidation, Ethereum ($ETH) has finally broken through a crucial resistance level, triggering a massive short squeeze that liquidated $46 million worth of short positions! 💥 This is a strong sign that market sentiment could be shifting to the upside.
Here’s the breakdown:
🔑 Resistance Breakout: Ethereum has successfully closed a 4-hour candle above the key resistance level, signaling a potential trend reversal and continuation to the upside. The market is now eyeing the next major target at $2100.
📈 Trade Setup:
Entry Point: We are looking for a retest of the $1960 level as support (previous resistance), which is a strong entry zone for a long position.
Stop Loss: Set your stop loss just below the previous support level at $1920 to manage risk effectively.
Target: The next major resistance is around $2100, where we expect some price action to unfold. A break above this could signal further upside potential.
This breakout presents a clear opportunity for traders looking to capitalize on potential bullish momentum in Ethereum. Keep your eyes on the charts and manage risk appropriately! 🔍
Remember: As always, trade responsibly and stay updated on market condition