đš $ETH THE RECOVERY IS FACING RESISTANCE
ETH is trading around $2,350 on the 1H chart after bouncing from $2,281. The recovery was strong initially, but price has now pulled back from the $2,366 area, and sellers are starting to show up again.
The 7 MA is near $2,359.85, the 25 MA is around $2,352.89, and the 99 MA sits much higher at $2,404.94. Price is struggling around the short-term averages and remains below the 99 MA, so Iâm not calling this a bullish reversal yet.
My trade plan đ
đ Long entry: $2,335â$2,345, if support holds and buyers confirm
đą Support: $2,335, $2,305, $2,281
đŽ Resistance: $2,353â$2,367, $2,397, $2,405
đ Stop-loss: $2,318
đŻ Target 1: $2,367
đŻ Target 2: $2,397
đŻ Target 3: $2,405, if momentum continues
What Iâm watching:
If ETH holds $2,335 and reclaims $2,367, buyers could push toward $2,397â$2,405.
But if $2,335 breaks, Iâd expect another test of $2,305. Losing $2,281 would weaken the recovery further.
Risk-to-reward: From a $2,340 entry with a $2,318 stop, the approximate ratios are 1:1.2 to Target 1, 1:2.6 to Target 2, and 1:3 to Target 3, before fees and slippage.
Risk management: Iâd risk no more than 1% of my trading capital and size the position according to the stop-loss distance.
Invalidation: A move below $2,318 invalidates this particular long setup.
For now, I want to see ETH reclaim resistance before getting confident. If support fails, Iâd rather stay patient than force a long.
Based on the provided 1H chart. Levels are planning scenarios, not guaranteed outcomes. DYOR Not financial advice.
ETH is trading around $2,350 on the 1H chart after bouncing from $2,281. The recovery was strong initially, but price has now pulled back from the $2,366 area, and sellers are starting to show up again.
The 7 MA is near $2,359.85, the 25 MA is around $2,352.89, and the 99 MA sits much higher at $2,404.94. Price is struggling around the short-term averages and remains below the 99 MA, so Iâm not calling this a bullish reversal yet.
My trade plan đ
đ Long entry: $2,335â$2,345, if support holds and buyers confirm
đą Support: $2,335, $2,305, $2,281
đŽ Resistance: $2,353â$2,367, $2,397, $2,405
đ Stop-loss: $2,318
đŻ Target 1: $2,367
đŻ Target 2: $2,397
đŻ Target 3: $2,405, if momentum continues
What Iâm watching:
If ETH holds $2,335 and reclaims $2,367, buyers could push toward $2,397â$2,405.
But if $2,335 breaks, Iâd expect another test of $2,305. Losing $2,281 would weaken the recovery further.
Risk-to-reward: From a $2,340 entry with a $2,318 stop, the approximate ratios are 1:1.2 to Target 1, 1:2.6 to Target 2, and 1:3 to Target 3, before fees and slippage.
Risk management: Iâd risk no more than 1% of my trading capital and size the position according to the stop-loss distance.
Invalidation: A move below $2,318 invalidates this particular long setup.
For now, I want to see ETH reclaim resistance before getting confident. If support fails, Iâd rather stay patient than force a long.
Based on the provided 1H chart. Levels are planning scenarios, not guaranteed outcomes. DYOR Not financial advice.