ETHUSD has broken above the 2,421 resistance zone, which had capped price for several months. This level is now an important support area to watch.
A Daily Bullish Divergence around the June low supported the recovery, while a Bearish RSI Divergence has now appeared near the recent highs, creating a short-term risk of retracement.
The long-term bullish trendline remains intact.
Crux: The broader trend remains bullish, but the current bearish RSI divergence is the main short-term concern.
Key Levels
2,421 is the first key support. A successful retest could support further upside toward the marked targets.
If a deeper retracement occurs, 1,884 is the next potential buying zone.
Crux: 2,421 is the key level, with 1,884 as deeper support.
Trade Plan
Current View: Bullish
Entry 1: 2,421
Entry 2: 1,884
Stop Loss: 1,489
Profit Booking 1: 3,260
Profit Booking 2: 4,000
The plan focuses on buying the marked zones and targeting 3,260 and 4,000.
For bigger vision you can see these analysis
This is not financial advice. Do your own research. Position sizing and managing risk is key even after strong analysis.
