ETH/USD on the 1-hour timeframe from Bitstamp.next move possible

1. Trendline & Support Zone:

A diagonal trendline is visible, indicating an upward trend.

The blue shaded area represents a key support zone around $2,680–$2,700, where price previously bounced.



2. Price Action & Breakout Setup:

ETH is currently at $2,738, moving toward a potential breakout.

The price is expected to rise toward the next resistance levels ($2,776 and $2,825), as indicated by the black arrow.



3. Trade Setup (Long Position):

Entry: Around the current price of $2,738.

Target (Take Profit - TP): Between $2,825 and $2,876.

Stop-Loss (SL): Below $2,696 to manage risk.




Interpretation:

Bullish scenario: If ETH holds above the current support, it could push higher toward $2,825 and beyond.

Bearish invalidation: If price breaks below $2,696, the setup could be invalidated, leading to a further decline.


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