---$ETHFI
ETHFI/USDT Analysis - Long Setup (1D)
We are witnessing a potential bullish breakout in ETHFI/USDT after a prolonged period of consolidation. The price is currently trading around $1.47, showing a +5.21% increase in the last 24 hours.
Key Technical Highlights:
Downtrend Reversal: ETHFI/USDT has been in a strong downtrend since April, with a clear descending resistance line that has been tested multiple times.
Resistance Zone: The price is approaching the critical resistance zone between $1.47 to $1.50. A breakout above this area would indicate a strong bullish momentum.
Accumulation Phase: The price action over the last few months suggests accumulation, with strong support building around the $1.39 to $1.42 range, providing a solid foundation for the next leg up.
Volume: With increasing volume, we might see more buying pressure if the current price continues to hold above $1.47.
Bullish Targets:
Immediate Target: If the price breaks the resistance zone convincingly, we could aim for $2.00, which would be the first significant level of interest.
Extended Target: Beyond that, we could see ETHFI testing the $4.00 - $5.00 levels in the coming months if bullish momentum persists.
Risk Management:
Stop-Loss: Set a stop-loss slightly below $1.39 to protect against potential fakeouts or reversals.
Conclusion: ETHFI/USDT is showing strong signs of a breakout, and this could be an excellent opportunity to take long positions. However, always manage your risk and wait for confirmation above the resistance zone before entering a trade.
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