MARKET TALK — Ethereum (ETH/USDT)



ETH is being monitored as it shows a fairly aggressive short-term bullish momentum. Ethereum has managed to break out of the lower consolidation area and is currently trading in the range of 1,915 to 1,918.

Micro Trend: The 15-minute chart shows a solid Uptrend structure after successfully breaking out of a tight consolidation area around 1,880. ETH has been consistently printing higher highs and higher lows throughout the past few hours of the trading session.

Decision Point: ETH is currently testing a crucial supply zone in the range of 1,880 – 1,919. A clean breakout above 1,920 will pave the way toward the next resistance target around 1,950

Buy Scenario (Long)
Breakout Confirmation: You can open an instant Buy position if the next 15-minute candle closes firmly above 1,920. The nearest profit target is at 1,950 with a tight Stop Loss around 1,895.

Buy Scenario (Long)
Following the Retest: Since the price has already jumped quite high instantly, a safer scenario is to wait for a healthy correction (pullback) to the nearest support area at 1,890 before entering a buy.

DYOR🧐

$ETH
ETH2.18%
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