๐ง Basic Data
Current price of ETH is approximately US$ 4.685.
High intraday approximately US$ 4.762, low approximately US$ 4.612.
Previous relevant support and resistance levels: support at ~ US$ 4.500-4.600; resistance at ~ US$ 4.750-4.900. (from previous analysis
๐ง Entry Setup
Here are some setup options based on different scenarios:
Scenario Entry (Enter Position) Level Stop Loss (SL) Target / Take Profit (TP) Notes Conditions
Bullish Breakout If the price breaks US$ 4.750 with strong enough volume โ open long slightly above breakout, for example US$ 4.760-4.780 SL can be below breakout, for example ~ US$ 4.650-4.700 (to limit if false breakout) First target at US$ 5.000, extend target to US$ 5.200-5.300 if momentum remains strong Ensure good breakout volume, not just a wick. Can confirm with a closing candle above resistance.
Rejection at Resistance If the price approaches resistance ~ US$ 4.750-4.800 and a bearish signal appears (reversal candle like doji, shooting star, bearish engulfing) โ can open short around that level SL above resistance, for example US$ 4.850-4.900 depending on risk tolerance First target to support around US$ 4.500-4.600, second target if breakdown down to US$ 4.300 Need confirmation of reversal signal + decreasing volume when approaching resistance.
Bouncing from Support If the price drops to support around US$ 4.500-4.600 and a reversal signal appears (hammer, bullish engulfing, RSI divergence or other indicators) โ open long SL below strong support, can be at US$ 4.400 or slightly below depending on risk reward TP at the next resistance (~ US$ 4.750-4.900) Beware of false break support; ensure there is a valid technical signal.
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โ ๏ธ Additional Risks & Tips
Leverage: Do not use leverage too high if you are not comfortable with high fluctuations in crypto.
Chart Timeframe: Use a 15-minute / 1-hour timeframe for entry and confirmation; a 4-hour or daily timeframe is good for seeing stronger support/resistance.
