The #ETHUSDT recommendation I made today is moving in the right direction. In fact, the price has moved in the trade’s favor more strongly and quickly than expected, with successive breakouts above important resistance levels.
📊 Trade status: Floating profit (In Profit)
The current price of #ETH is trading in the $2,400–$2,436 range, after rising by ~6.43% over 24 hours. This means the trade has generated a clear profit compared to the original entry zone ($2,270–$2,300).
· Entry zone ($2,270–$2,300): Fully activated, and the price is now about 4.5%–6% above it.
· Stop-loss ($2,170):** It has not been approached at all; the lowest price recorded today was around **$2,226.
· First target ($2,500): The current price is only ~3%–4% away, which means the first target is now within sight.
🔍 What drove $ETH higher?
Three factors converged today to support the rally:
1. TD Sequential signal on the 3-day timeframe: The signal we spotted yesterday was accurate, and analyst Ali Charts confirmed it again today, noting that ETH fell 22.64% (from $2,806 to $2,171) before the buy signal appeared, with a rebound toward $2,500** and then **$2,700 expected.
2. “Falling Wedge” pattern: The daily chart shows this reversal pattern, and a breakout above its upper boundary could accelerate the upward move.
3. Speculative buying and short liquidations: In the past hour, $4.73 million worth of short positions were liquidated, compared with just $388,000 worth of long positions. This means bearish traders are taking losses and pushing the price higher.
⚠️ What should you watch now?
· The next critical resistance: $2,440–$2,520. This is the range that halted previous rebounds, and breaking through it is the real condition for the rally to continue toward the first target ($2,500) and beyond.
· Institutional flows remain negative: Spot ETH funds recorded $85.35 million in outflows on November 3 (led by BlackRock at $74.44 million), which means institutions have not yet confirmed the reversal.
· Political backdrop: Some traders view the Democrats’ wins in the Senate and House of Representatives as less favorable toward cryptocurrencies than the Republicans, which could limit risk appetite in the short term.
Bottom line: The recommendation has worked well so far, and the price is in clearly profitable territory. Watch $2,440–$2,520 as the main hurdle; breaking through it opens the way toward $2,500** (the first target) and then **$2,700 (the second target). Continue to adhere to the $2,170 stop-loss, and consider raising it to your entry point (break-even) after reaching the first target to protect profits.
Disclaimer: This is an analytical update, not investment advice. The final decision and full responsibility are yours.
