#ETH
The price is moving within a descending channel on the 1-hour timeframe; having reached the lower boundary, it is poised for a rebound, suggesting a potential upward move upon retesting this level.
The Relative Strength Index (RSI) indicates a bearish trend; however, a bullish breakout is likely given that the price has reached "oversold" levels on the 1-hour chart.
An orange trendline supports the likelihood of a bullish rebound.
An initial support level exists at 2425, serving as a preliminary support zone.
A key support zone (marked in green) is located at 2350; the price has bounced from this area multiple times, making it a strong support level.
The price is moving toward the 100-period moving average (a level currently being approached), reinforcing the probability of an upward move.
Entry Price: 2536
Target 1: 2565
Target 2: 2600
Target 3: 2636
Stop Loss: At the green resistance zone.
Remember this simple rule: capital management.
If you have any questions, please leave a comment.
Thank you.
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📍Trade Smart & Stay Protected⭐️
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📌 We're open to Promotions, Ads & Partnerships
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📌 We're open to Promotions, Ads & Partnerships
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.