🌟🔍 Ethereum’s Upward Channel Movement 📈 by tradecitypro on TradingView.com
🔺 Ethereum in Weekly Ascending Channel: Ethereum (ETH) is currently moving within an ascending channel in the weekly timeframe and has reached the channel’s upper boundary.
🎯 Significant Weekly Resistance: A key static resistance lies ahead at $2454, closely aligned with the psychological level of $2500. Ethereum could potentially reach this if Bitcoin continues its upward trend.
💡 Strategy for Current Ethereum Holders: If you’ve bought Ethereum at lower prices, like around $1500 or $1000, the best course of action could be to create liquidity and stake your holdings.
📊 Re-entry or New Entry Strategy: Personally, I’m waiting for a breakout above the $2500 static resistance before considering a new entry. Another approach could be to find an entry point at the channel’s midpoint or its bottom, but only after witnessing a bullish reaction from these levels.
🔍 Volume Trend: The weekly volume is decreasing, but this isn’t necessarily negative. I will check the Total Value Locked (TVL) in the next analysis for further insights.
📈 Futures Trading and Profit Booking: I’ll provide a more detailed analysis for lower timeframes, futures trading, and profit booking tomorrow.
🚦 My Personal ETH Strategy: I’m holding my Ethereum with a stop loss set below $1500.
🔑 Related Categories:
Channel Patterns
Resistance and Support
Volume and Staking Analysis
📣 What’s your take on Ethereum’s trajectory? Are you holding or planning new entries? Share your strategies! 💬🌐 #EthereumTrend #CryptoStrategies #TradeCityPro
📚 Remember: Cryptocurrency investments carry risks. Make sure to do your own research and consider your investment goals and risk tolerance! 🧠💼