Following a strong August rally, we're now in a consolidation phase, setting up for the next big move. š
š¹ Market Structure:
Ethereum is currently trading around $4,549, holding strong above the key support at $4,216. This level is our foundation for a bullish continuation. š”ļø
š¹ Key Levels:
Support Point: $4,216 ā A solid base for the next leg up.
Resistance Target: $4,700ā$4,800 zone ā The next major hurdle where we might see selling pressure. š§±
Buy Zone: After a slight retracement towards support, look for entry points.
š¹ Technical Outlook:
Price has been consolidating between $4,200 and $4,700. If the support holds, we anticipate a breakout towards our resistance targets, which could mean a sweet +9% upside potential! šÆ
š¹ Trading Plan:
ā Bullish Scenario: Enter near the support zone ($4,216-$4,300) with targets at $4,700 and $4,800.
