$ETH
Ethereum has pulled back to a critical support zone after rejecting the $3,300 high, finding strong buying interest. This is a healthy retest of a key level within the uptrend, not a breakdown. Expect a powerful bounce from this zone to fuel the next leg toward a retest of the highs.
TRADE SETUP
· ENTRY ZONE: 3,160.00 - 3,170.00
· TAKE PROFIT 1: 3,250.00
· TAKE PROFIT 2: 3,300.00
· STOP LOSS: 3,140.00
SHORT MARKET OUTLOOK
Bearish momentum is being absorbed at major support. The immediate trend is setting up for a bullish reversal, targeting a reclaim of the 3,250 level. The critical support to hold is 3,155.00. A bounce and close above 3,180 confirms the reversal is underway.
Buy and trade here on $ETH
ETH
1,942.04
-0.45%