Ethereum (ETHUSDT) is gaining strong momentum! Current price: $2,612.71 (+4.28%) โ but can this rally hold? Hereโs a detailed technical breakdown:
๐ Key Highlights
1๏ธโฃ Bullish Momentum Gaining Strength
MACD (14.47): Fresh bullish crossover โ Signals the start of a strong uptrend.
OBV (838K): Significant buying volume โ Confirms the legitimacy of the breakout.
Long Interest: 66.87% of positions are long โ Suggests institutional confidence in upward movement.
Bollinger Bands: Price trading above the MID-band ($2,532) โ Indicates ongoing bullish trend.
2๏ธโฃ Cautionary Signals to Watch
RSI (6) = 72.2: Elevated levels โ Market appears overheated in the short term.
StochRSI (99.11): Deep in the overbought zone โ Potential signs of buyer exhaustion.
Futures Basis (-0.05%): Slight discount vs. spot price โ Indicates minor hesitation at higher levels.
๐ฏ Trading Strategy
๐น Aggressive Long Entry: $2,590โ$2,610 โ Ideal for taking advantage of the current dip + Bollinger support.
TP1: $2,650 (Recent High) โ Secure 50% profits here.
TP2: $2,730 (Upper Bollinger Band Extension).
SL: $2,530 (Just below support).
๐น Ideal Entry Range: $2,520โ$2,540 โ Strong risk-reward zone on a deeper retest.
๐น Short Setup (Only on Rejection): If price fails to break $2,650:
Target: $2,550
Stop Loss: $2,670
โ Confidence Level
80% bullish confidence in the long-term uptrend (MACD + OBV alignment).
Short-term pullback is possible, but dips are excellent buying opportunities.
โ ๏ธ Key Technical Levels
Support: $2,532 โ Holding this MID Bollinger level is crucial.
Resistance: $2,650 โ A breakout here could send price to $2,730 next.
#Ethereum #ETH #CryptoBullRun #Altcoins#TradingTypes101
๐ Riding the ETH wave? Hit like and drop your price targets in the comments!
