ETH/USDT 4H: Looking for the Perfect Pullback? 🧐📈
Hey Traders! 👋
Just finished analyzing ETH/USDT on the 4H chart, and the price action is looking incredibly clean! Here is my current setup:
🟢 Falling Wedge Breakout: We already got a beautiful breakout from the falling wedge, which fueled this massive upward rally.
🔶 Ascending Parallel Channel: ETH is currently riding inside a well-defined ascending channel.
⚠️ Current Resistance: Price is currently testing the major descending resistance line (purple) and the upper boundary of the channel around $1,930 - $1,940.
What’s the Plan? 🎯
I'm not FOMO-ing here. Instead, I'm waiting for a healthy pullback to the 0.382 ($1,824) to 0.5 ($1,768) Fibonacci levels, which align perfectly with the channel support and Supertrend.
My Buy Zone: $1,790 - $1,820 🏹
Target: Breakout towards $2,049+ 🚀
What do you guys think? Will we reject here for a pullback, or smash straight through the resistance? Let me know in the comments! 👇