$ETH /USDT Trading Analysis - Potential Long and Short Opportunities
Chart Overview:
The 4-hour chart for ETH/USDT shows a recovery from the recent lows near $3,350, trading at $3,604. The price action highlights key levels of support and resistance. The bullish momentum hints at further upside, but caution remains due to possible corrections.
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Long Trade Setup:
Entry Zone: $3,580 - $3,620
Targets:
Target 1: $3,800
Target 2: $3,950
Target 3: $4,050
Stop Loss: $3,520 (below the support level to minimize risk)
Analysis for Long Trade:
The price shows signs of an uptrend, supported by higher lows. A break above $3,620 could lead to a bullish continuation. Momentum indicators signal increasing buying pressure.
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Short Trade Setup:
Entry Zone: $3,650 - $3,680 (if price rejection occurs near this level)
Targets:
Target 1: $3,450
Target 2: $3,300
Stop Loss: $3,700 (above recent resistance to avoid false breakouts)
Analysis for Short Trade:
If ETH faces resistance around $3,650, it may lead to a pullback. A confirmed rejection could trigger shorting opportunities targeting previous support zones.
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Predictions and Market Behavior:
1. Bullish Scenario: If ETH breaks $3,620 and sustains the upward momentum, the next significant resistance is around $3,800, with a possible retest of $4,000 in the coming sessions.
2. Bearish Scenario: A failure to hold above $3,580 could see ETH retesting the $3,450-$3,350 support range.
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Key Levels to Watch:
Resistance Levels: $3,650, $3,800, $4,000
Support Levels: $3,520, $3,450, $3,350
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Risk Management Tip: Always use proper position sizing and stop losses to mitigate risks. The crypto market remains volatile; therefore, staying updated on global news and technical signals is crucial.
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Hashtags:
#ETHUSDT #CryptoTrading #Ethereum✅ #TechnicalAnalysis $ETH