Ethereum Analysis: Key Points and Strategic Insights 🔍
As we dive into Ethereum (ETH) analysis, it's crucial to note that ETH's value relative to Bitcoin (BTC) is currently declining, and the ongoing ETF approval process could significantly impact its future. Don't overlook these factors!
Analysis Overview:
Channel Dynamics: ETH experienced a parabolic move after breaking out from its previous ascending channel. We cloned this channel and observed strong reactions at the top and middle lines. We're now watching for reactions at the channel's bottom to confirm its validity.
Fibonacci Correction: ETH has corrected to the 50% Fibonacci level of its previous wave, as seen on the chart.
Entry Strategy:
For a safer entry, wait for a weekly candle with strong momentum from this area.
For those willing to take a risk, entering with a stop loss below $2600 and adhering to sound risk management might be worthwhile.
Key Levels to Watch:
Better Entry Point: Break above $3270.
Main Resistance: $3650.
For Holders and DeFi Users:
Holders Involved in DeFi/EVM: No immediate need for concern.
Pure Holders: Set a stop loss below $2150 for risk management.
Borrowing Strategies: Keep your liquidation point below $1900 for now.
Long-Term Targets:
It's too early to discuss long-term targets. We'll revisit this once Bitcoin's movement becomes clearer.
👍 If you found this analysis helpful, please like, comment, or share! For more insights, follow #Tradecitypro and #TCP 🚀#eth #ethusdt #Eth #Ethereum
🔖 Categories: Technical Analysis, Market Strategy, Risk Management
📌 Stay tuned for further updates as the market evolves, and happy trading!
Analysis Overview:
Channel Dynamics: ETH experienced a parabolic move after breaking out from its previous ascending channel. We cloned this channel and observed strong reactions at the top and middle lines. We're now watching for reactions at the channel's bottom to confirm its validity.
Fibonacci Correction: ETH has corrected to the 50% Fibonacci level of its previous wave, as seen on the chart.
Entry Strategy:
For a safer entry, wait for a weekly candle with strong momentum from this area.
For those willing to take a risk, entering with a stop loss below $2600 and adhering to sound risk management might be worthwhile.
Key Levels to Watch:
Better Entry Point: Break above $3270.
Main Resistance: $3650.
For Holders and DeFi Users:
Holders Involved in DeFi/EVM: No immediate need for concern.
Pure Holders: Set a stop loss below $2150 for risk management.
Borrowing Strategies: Keep your liquidation point below $1900 for now.
Long-Term Targets:
It's too early to discuss long-term targets. We'll revisit this once Bitcoin's movement becomes clearer.
👍 If you found this analysis helpful, please like, comment, or share! For more insights, follow #Tradecitypro and #TCP 🚀#eth #ethusdt #Eth #Ethereum
🔖 Categories: Technical Analysis, Market Strategy, Risk Management
📌 Stay tuned for further updates as the market evolves, and happy trading!
