$ETH /USDT is trading at $3,887.31, with a minor daily drop of 1.25%. Ethereum has shown strong mid-term bullish momentum, evidenced by a 61.48% increase in the last 90 days, but is currently consolidating below the key resistance of $4,000. The price action reveals potential opportunities for both long and short trades.
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Key Market Data
24H High: $3,968.47
24H Low: $3,846.30
Resistance Levels:
Immediate Resistance: $3,950
Major Resistance: $4,000
Support Levels:
Immediate Support: $3,850
Major Support: $3,750
Trading Volume (24H):
ETH: 306,297.49
USDT: $1.20 Billion
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Trading Strategies
1. Long Trade Setup
Entry Zone: $3,850 - $3,870 (near immediate support)
Target 1: $3,950
Target 2: $4,000
Target 3: $4,100 (if breakout occurs)
Stop Loss: $3,800
Reasoning:
The $3,850 support level has historically shown strong demand, making it an ideal entry point for a bounce toward key resistance levels.
A breakout above $4,000 will likely lead to continued bullish momentum.
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2. Short Trade Setup
Entry Zone: $3,950 - $4,000 (near immediate resistance)
Target 1: $3,900
Target 2: $3,850
Stop Loss: $4,050
Reasoning:
ETH has repeatedly faced rejection near $3,950-$4,000.
A short position at these levels provides an opportunity to capitalize on a potential pullback to the support zone.
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Predictions
Bullish Case:
1. If ETH breaks and sustains above $4,000, the next targets would be $4,100 and potentially $4,250.
2. Increased buying volume and a breakout candlestick pattern will confirm bullish continuation.
Bearish Case:
1. A failure to hold $3,850 could lead to further downside, with ETH retesting $3,750.
2. A break below $3,750 would invalidate the bullish setup, potentially pushing ETH toward $3,600.
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Conclusion
ETH/USDT remains a key player for traders with clear levels of support and resistance. The current consolidation offers potential entries for both bullish and bearish strategies, depending on price movement around the $3,850-$4,000 zone.
Risk Management Tips:
Use tight stop-loss levels to protect against volatility.
Watch for trading volume confirmation near key levels for reliable trade entries.
Stay informed, and trade smartly!#BinanaceFutureTrading #CryptoUsersHit18M #ETH🔥🔥🔥🔥
