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ETH hits a key support level and consolidates sideways‼️
Support is holding 📈 Is it a good time to enter a long position? ⁉️
Hello, my friends. When I analyzed Ethereum the day before yesterday, I mentioned that there is a strong support level at 1656. After the strong support at 1656 was confirmed, you can see that it immediately rose from 1656 to 1856, a total increase of 200 points. During this pullback, after the 200-point correction, I again provided a long entry point at 1686 for everyone. This is a secondary support, meaning a support level that occurs after an upward trend has already started. Compared to the first support at 1656, this support has moved up by 30 points.
So far, if you entered a long position at 1686 last night, a 20-point profit now is enough to cover your breakeven stop-loss. Tomorrow is the weekend, and if the price doesn’t break out into an upward trend tonight, it’s likely to consolidate around 1686 over the weekend. I suggest everyone set a breakeven stop-loss and wait. Will it go higher? At 1686, this position can be used to make a risk-free long bet. 📈