Coin Name $ETH
Position: LONG
Entry Price: 1550
On the daily timeframe, ETH appears to be setting up for a potential W pattern, which is typically a bullish reversal formation. However, price has recently faced rejection from a key resistance level, suggesting a possible short-term move to the downside. Additionally, the RSI is holding within the supply zone and has broken its support, reinforcing the likelihood of a pullback. This setup aligns more with a longer-term trade, and I personally prefer entering via spot. Futures trading is also an option—but should be approached with caution and managed risk.
On the monthly timeframe, ETH shows significant liquidity buildup below the current price level. This suggests that a move to the downside is likely, as the market may seek to sweep that lower liquidity before any potential reversal or continued upward momentum.
On the weekly timeframe, ETH Dominance (ETH.D) appears to be forming a potential W pattern, indicating a possible bullish reversal. At the same time, the RSI is showing signs of bullish divergence, which could further support an upward move if confirmed.
Targets:
1st TP 2000
2nd TP 2500
3rd TP 3000
4th TP 4000
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$ETH