Based on the chart you provided, I will analyze the $ETH /USDT 15-minute timeframe data and provide insights for both long and short trade setups. Let’s go step-by-step for the technical analysis and then determine the potential trade entry levels.

1. Current Price Action:

ETH/USDT price is currently at $2613.52.

The price is up by +2.14% within 24 hours.

The 24-hour high is $2647.79, and the 24-hour low is $2556.83.

The market shows some short-term volatility, as evident from the rapid upward and downward price movements.

2. Support and Resistance Zones:

From the chart, we can see two horizontal purple boxes, which indicate key support and resistance zones.

Resistance Zone: Around $2620 - $2630.

Support Zone: Around $2595 - $2605.

3. Volume Profile:

The Volume SMA (Simple Moving Average) 9 shows decreasing volume over time, which may indicate reduced buying or selling pressure in this time frame.

Lower volume could lead to a consolidation phase, but it also leaves the market vulnerable to sudden price spikes on increased volume.

4. Trade Setup:

For a Long (Buy) Trade:

Entry Point: If the price breaks above the upper resistance zone ($2625 - $2630) with a strong bullish candle and increased volume, a potential long trade can be initiated.

Entry level: $2630.

Stop Loss: Place the stop loss slightly below the current support zone at $2605.

Take Profit Target:

First target: $2650, just below the recent high.

Second target (if bullish momentum continues): $2675 - $2680.

For a Short (Sell) Trade:

Entry Point: If the price fails to break above the resistance level ($2620 - $2630) and gets rejected, you may consider opening a short position.

Entry level: $2610 (on confirmation of resistance rejection).

Stop Loss: Place the stop loss slightly above the resistance at $2635.

Take Profit Target:

First target: $2590 (near the lower support).

Second target (if bearish momentum continues): $2555, testing the 24-hour low.

5. Conclusion:

The market is showing mixed signals in this 15-minute chart. While there is some bullish movement, the price is currently trading near a resistance zone, and volume is declining.

Long trade: A breakout above $2630 would signal strength.

Short trade: A rejection around $2610 could provide a short opportunity with targets near the lower support.

It’s important to monitor the volume and price action closely to determine the next move in either direction.

#MemeCoinTrending #TeslaTransferBTC #USStockEarningsSeason #BNBRisesTo600 #Write2Earn!