Ethereum (ETH) Market Update - Sunday Analysis
Good morning, everyone! Here’s your detailed Ethereum (ETH) analysis for today:
Fundamentals:
Ethereum network metrics (transactions, active addresses, TVL) remain stable.
No major fundamental shifts impacting price for now.
Momentum largely driven by Bitcoin's strength and general market sentiment.
Technical Analysis:
Ethereum is currently ranging between $1,760 support and $1,840 resistance.
We are seeing compression near resistance, which often precedes a breakout.
Given Bitcoin's ongoing bullish momentum (above $63,700), Ethereum may lean towards a bullish breakout.
Entry Strategy:
Entry (Aggressive): Enter at a confirmed breakout above $1,840 on strong volume.
Entry (Conservative): Wait for a successful retest of $1,840 after breakout for confirmation.
Profit Targets:
First Target (TP1): $1,900 — strong historical liquidity zone.
Second Target (TP2): $2,000 — psychological round number + next major resistance.
Stop Loss:
Place a stop loss at $1,800 (below local support) to protect against a fakeout and sudden drop.
Alternative Bearish Scenario:
If ETH drops below $1,760, expect further downside towards $1,700.
A clear break of $1,760 could invalidate the bullish structure.
Summary:
ETH is showing signs of a breakout, supported by Bitcoin’s strength.
Best to wait for a clean breakout and retest for safer entries.
Expect higher volatility — fakeouts are possible before a decisive move.
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