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ETH-USDT: ETH Bulls Target 1350

Cryptocurrency
Summary:

ETH has retested the short-term bottom several times. It is rebounding in both the 4-hour and daily time frames, with the short-term resistance in the range of 1300-1350.

Sell ETH-USDT
EXP
EXPIRED

1320.00

ENTRY PRICE

1100.00

TGT PRICE

1400.00

SL PRICE

1639.66 +28.25 +1.75%

--

Point

EXPIRED

1100.00

TGT PRICE

1249.97

CLOSING

1320.00

ENTRY PRICE

1400.00

SL PRICE

Hot News

1. U.S. SEC: The Commission has authorized the listing of bitcoin futures-based ETFs on exchanges.
2. Bloomberg: LedgerX is ready to provide $175 million for use in FTX's bankruptcy proceedings.
3. A Brazilian legislative body approves a bill regulating the use of bitcoin, which will take effect after being signed by the president;
4. The European Investment Bank issued a 100 million euro digital bond.

Sentiment

The Crypto Fear and Greed Index is at 29, representing fear. The index was 26 yesterday and 28 the day before yesterday. Two consecutive days of rallies have made the market active. The fear sentiment has slightly eased. Big changes still require the release of important non-farm payrolls data.

Technical Analysis

ETH has retested the short-term bottom several times. It is rebounding in both the 4-hour and daily time frames, with the short-term resistance in the range of 1300-1350, and the short-term support at 1230, 1150, and 1070. This trend will be strong during the day and it's unlikely to move down in the near term. It's also possible to continue to test the strong pressure at 1350. We can wait for an opportunity to go short at highs.
ETH 4-Hour Candlestick Chart
ETH-USDT: ETH Bulls Target 1350_1
ETH Daily Candlestick Chart
ETH-USDT: ETH Bulls Target 1350_2

Trading Recommendations

Trading direction: Short
Entry price: 1320
Target price: 1100
Stop loss: 1400
Support: 1150, 1070
Resistance: 1320, 1350
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or signal, or any other product is suitable for you based on your investment objectives and financial situation.

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Damon

Analyst

I worked as an analyst at a well-known forex brokerage firm and have been engaged in the financial industry for 10 years, involving forex, futures and stocks. I'm especially good at analyzing and interpreting the market using fundamental data.

Rank

8

Articles

1132

Win Rate

48.15%

P/L Ratio

0.87

Focus on

ETH-USDT, BTC-USDT, XAUUSD

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