Recent technical context:
ETH recently reached an all-time high of ~$4,955 but has since declined to ~$4,630; however, the analysis remains positive towards more gains.
Several analyses indicate potential resistance around $6,000 and critical support at ~$4,400; breaking through the resistance could pave the way for $7,000 by the end of the year.
Proposed trade setup:
Given proposed value
Entry Price (Long) $4,650 – 4,700
Stop Loss $4,400 (strong support)
Target 1 $5,000
Target 2 $5,500
Target 3 $6,000
Risk/Reward Ratio from ~1:1 (first target) to ~1:3 (third target)
Justifications:
Entering at $4,650–4,700 gives you the opportunity to benefit from a rebound from the support area of $4,400 with enough room for profits.
A stop loss at this level protects capital from a support breakdown.
Price reaching $5,000–$6,000 aligns with market expectations and recent analyses.
