When the signal appeared, $ETH 's daily chart had already made the direction clear—the price was holding firmly above EMA50 and EMA200, with the bullish trend structure intact. The 15-minute ADX came in at 35.4, showing buyers are driving this move. With Bitcoin strengthening in tandem and the correlation at 0.86, the case for this coin to follow along makes sense. Of course, the 1-hour RSI has climbed to 77.3, indicating short-term overbought conditions, so chasing the price carries considerable risk. A pullback would be a more natural move.
So I'm more focused on how price behaves when it pulls back into the entry zone. That's where structural support and trend continuation meet; holding there would show that bulls are still in control. Small position sizing, taking profits in stages, and moving the stop-loss to breakeven after TP1 are a suitable approach for the current market.
🟢 Trade direction: Long
📍 Entry zone: 2505.77 – 2511.73
🛑 Stop-loss: 2440.94
🎯 Take-profit 1: 2559.61
🎯 Take-profit 2: 2593.52
🎯 Take-profit 3: 2644.38
Gaze upon the vastness of mountains and seas; observe the market's finer details.
Join Uncle Xiong and witness the gains and losses of the world.
#ETH
Click below to trade 👇
So I'm more focused on how price behaves when it pulls back into the entry zone. That's where structural support and trend continuation meet; holding there would show that bulls are still in control. Small position sizing, taking profits in stages, and moving the stop-loss to breakeven after TP1 are a suitable approach for the current market.
🟢 Trade direction: Long
📍 Entry zone: 2505.77 – 2511.73
🛑 Stop-loss: 2440.94
🎯 Take-profit 1: 2559.61
🎯 Take-profit 2: 2593.52
🎯 Take-profit 3: 2644.38
Gaze upon the vastness of mountains and seas; observe the market's finer details.
Join Uncle Xiong and witness the gains and losses of the world.
#ETH
Click below to trade 👇