The $ETH /USDT pair is currently in a sideways trend, consolidating after a recent uptrend. The price is trading near the 20-day Moving Average, indicating a potential shift in momentum.

Key Support and Resistance Levels

Strong Support: $2,571.00 (recent swing low)

Immediate Support: $3,074.80 (200-day Moving Average)

Immediate Resistance: $3,442.50 (24-hour high)

Strong Resistance: $3,486.08 (Psychological level)

Entry Signal

Potential Long Entry: A breakout above the $3,442.50 resistance level could signal a resumption of the uptrend. A buy order could be placed above this level with a stop-loss below the recent swing low.

Potential Short Entry: A breakdown below the $3,074.80 support level could indicate a bearish reversal. A sell order could be placed below this level with a stop-loss above the recent swing high.

Trading Strategy

Long Position: Buy ETH/USDT above $3,442.50 with a stop-loss below $2,571.00 and a take-profit target of $3,486.08. #WillBTCBreak100KSoon #cryptomarketcapATH #BTCBreaks89k #Devcon2024 #Write2Earn!