HEthereum (ETH/USD) has shown impressive recovery on the H1 chart after bouncing from the $3168 zone. The price has been steadily climbing and is now testing the critical resistance near $3555, suggesting that a breakout might be on the horizon.
๐ Bullish Momentum Building
The candles are consistently forming above the 10-period moving average, which reflects strong bullish momentum. The uptrend is healthy, with higher highs and higher lows forming since the beginning of August.
๐ Key Levels to Watch
Resistance: $3555
Breakout Target 1: $3680
Breakout Target 2: $3810
Support: $3510 | $3468
๐ง Market Psychology
This consolidation near resistance usually means one thing โ accumulation before a breakout. If bulls take control and break the $3555 level with volume, a sharp rally can follow.
โ ๏ธ Risk Note:
If ETH fails to break resistance and drops below $3510, we could see a pullback to $3460 or even $3380. Watch closely for volume and candlestick confirmation.
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#ETH #Ethereum #CryptoTrading #TechnicalAnal๐ Ethereum Breakout Imminent? ETH Consolidates Near Key Resistance | H1 Technical Analysis$ETH
ysis #Binance #Bullish
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