Daily Price Outlook
- Ethereum is consolidating in a range between $1,845 and $1,945.
- Significant resistance is challenging Ethereum at the $1,935 level, marked by a triple-top pattern.
- Watch out for a potential breakout above $1,935, which could propel Ethereum towards $2,015 and higher. Conversely, a breakdown below $1,845 may trigger selling pressure towards $1,756 or $1,669.
Let’s dive into the exciting world of Ethereum trading against USDT! Currently, Ethereum is in a neutral stance, showing off its range-bound moves between $1,845 and $1,945.
On the daily timeframe, it’s facing a tough opponent at the $1,935 level, marked by a triple-top pattern. The candles near this level are sending signals that the bullish energy might need a breather and the buyers could use a timeout.
To add to the excitement, the relative strength index (RSI) and moving average convergence divergence (MACD) indicators are enjoying their time in the neutral zone. After breaking through a downward trend line that previously acted as a major hurdle around $1,845, Ethereum has a lot to prove.
Right now, all eyes should be on the $1,935 level. If Ethereum can break through this resistance, it might unleash a thrilling surge towards $2,015 or beyond, with a potential target of $2,126.
On the flip side, if the bears take control and Ethereum breaks below $1,845, it could trigger some selling pressure, targeting levels around $1,756 or even $1,669.
Get ready for the Ethereum rollercoaster ride today!
ETH/USD Price Chart – Source: Tradingview
ETH/USD – Trade Idea
Entry Price – BuyStop 1950
Take Profit – 2120
Stop Loss – 1820
Risk to Reward – 1: 1.130
Profit & Loss Per Standard Lot = +$170/ -$130
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