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ETH/USDT (Futures) Potential Upward Movement

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

Key Resistance Levels: 3546.84, 3678.17, 3700.00.

Key Support Levels: 3383.88, 3161.74, 3100.00.

Daily Chart:

The price on the higher time frame could not break the daily support around the 3383.88 USDT mark and left a huge wick to the downside showing that the buyers took control of the market. Further upside movement is expected in the coming days.

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

1-Hour Chart:

On the lower time frame, the coin broke the bullish pennant to the upside and then made a pullback to the 3383.88 USDT support. If found buyers around the 50% Fibonacci level which could lead to a new impulsive bullish wave toward the target profits.

Signal Idea:

Buy Limit Order @ 3389.02

TP 1 @ 3541.57

TP 2 @ 3678.17

Stop Loss @ 3338.60

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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