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ETH/USDT (Futures) Potential Upward Movement

ETH/USDT (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 3840.86, 3960.49, 3961.00.

Key Support Levels: 3551.04, 3383.88, 3161.74.

Daily Chart:

The price on the higher time frame found support around the 3383.88 USDT mark where the market reversed and moved higher and managed to break the daily resistance (now support) around the 3551.04 USDT level. This could lead to a further move to the upside toward the target profit which is the 3840.86 USDT mark.

ETH/USDT (Futures) Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the coin found buyers around the 50% Fibonacci retracement level signaling that the pullback ended. The market has moved higher with a big bullish bar. A lower correction could be seen to the 3551.04 USDT mark before a new impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 3558.25

TP 1 @ 3833.78

TP 2 @ 3960.49

Stop Loss @ 3456.58

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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