ETH/USDT 1H: Bulls Aiming for $3,280 After Key Bounce !!

ETH/USDT 1H Chart Analysis
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Current Price: $3,124

Market Condition:

• Bearish trend with a bounce from oversold conditions.
  
• RSI: Bullish divergence at recent lows, indicating potential recovery.
  

Key Levels:

• Support: $3,040
  
• Resistance: $3,200, $3,280
  
• Critical Level: $3,350
  

Trade Setup (Confidence Level: 7/10):

• Entry Zone: $3,124-$3,140
  
• Targets:
  
• T1: $3,200
  
• T2: $3,280
  
• Stop Loss: Below $3,020
  
• Risk Score: 7/10 (manageable with tight risk management).
  

Smart Money Analysis:

• Accumulation phase visible in the $3,040-$3,080 range, supported by volume profile.
  
• Market makers likely preparing for a push to test $3,200 resistance.
  
• Choppy price action expected between $3,100-$3,200 during distribution.
  

Recommendation:

• Long position is favorable within $3,124-$3,140.
  
• Monitor volume closely at $3,200 for breakout confirmation toward $3,280.
  
• Maintain modest position sizes due to recent volatility.
  
• Confidence Level: 7/10 for a cautious bullish setup.
  

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