ETH/USDT Chart Analysis
Ascending channel: Price is moving within a rising channel, with higher highs and higher lows, indicating bullish momentum.
Strong support area (~$2,600): Price repeatedly bounced off this level, reinforcing it as a key support zone.
Immediate resistance: Price is testing the upper boundary of the channel around $2,800–$2,850.
The 50-day MA (red) and 200-day MA (green) are trending upward, supporting the bullish structure.
A breakout above the channel’s resistance (above $2,800) could trigger a move toward $3,000–$3,200.
Failure at resistance might lead to a retest of support around $2,600, and a break below that could send the price back to the yellow zone (~$2,200).
Conclusion:
Bullish above $2,600, especially if $2,800–$2,850 is cleared with volume.
Bearish risk if price breaks below the channel, especially under $2,600.
Thanks for your support!
DYOR. NFA
Ascending channel: Price is moving within a rising channel, with higher highs and higher lows, indicating bullish momentum.
Strong support area (~$2,600): Price repeatedly bounced off this level, reinforcing it as a key support zone.
Immediate resistance: Price is testing the upper boundary of the channel around $2,800–$2,850.
The 50-day MA (red) and 200-day MA (green) are trending upward, supporting the bullish structure.
A breakout above the channel’s resistance (above $2,800) could trigger a move toward $3,000–$3,200.
Failure at resistance might lead to a retest of support around $2,600, and a break below that could send the price back to the yellow zone (~$2,200).
Conclusion:
Bullish above $2,600, especially if $2,800–$2,850 is cleared with volume.
Bearish risk if price breaks below the channel, especially under $2,600.
Thanks for your support!
DYOR. NFA
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