Bearish View on ETHUSDT
Trade:
Sell ETH Perpetual future at $2220
Stop Loss: $2260
Target: $2170
Max Profit: $50/ETH
Max Loss : $40/ETH
Rationale:
The most recent movement in ETH suggests a potential temporary halt in the upward momentum, with noticeable retracements in play. Moreover, a recently established supply zone/resistance has been pinpointed on the charts.
At present, the price is in the process of retracing towards the supply zone at 2240.
For risk management, we recommend setting a stop loss at 2260 to invalidate the aforementioned setup.
Trade:
Sell ETH Perpetual future at $2220
Stop Loss: $2260
Target: $2170
Max Profit: $50/ETH
Max Loss : $40/ETH
Rationale:
The most recent movement in ETH suggests a potential temporary halt in the upward momentum, with noticeable retracements in play. Moreover, a recently established supply zone/resistance has been pinpointed on the charts.
At present, the price is in the process of retracing towards the supply zone at 2240.
For risk management, we recommend setting a stop loss at 2260 to invalidate the aforementioned setup.