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ETHEthereum (ETH) Weekly Chart Analysis – Cup & Handle and Inverse Head & Shoulders Overview of Current Setup: Upon reviewing Ethereum’s weekly chart, a classic cup and handle formation is evident, with a confirmed breakout already in progress. The current price action suggests a potential backtest of the breakout zone, reinforcing the integrity of this pattern. Simultaneously, within this backtest, an inverse head and shoulders pattern is emerging – another bullish signal indicating that Ethereum could see further upside in the coming months. Pattern Breakdown: • Cup and Handle Formation: • This is a bullish continuation pattern that often signals the resumption of a strong uptrend after a period of consolidation. • The initial breakout suggests strong buying momentum, but as is common, the price is retracing to retest the breakout zone, essentially validating the strength of the move. • Inverse Head and Shoulders (H&S): • This pattern typically forms after a downtrend or corrective phase and often marks a reversal point. • The presence of this pattern within the backtest area adds confluence to the bullish outlook. Profit Targets: Given the alignment of these two patterns, the upside potential for Ethereum is significant. Here’s how the targets shape up: • Primary Target Range: $5600 - $6000 • This range represents a conservative measure of the breakout from the cup and handle, projected by mirroring the depth of the cup. • Extended Target: $6500 - $7000 (by mid-2025) • If momentum accelerates and bullish conditions persist, ETH could stretch towards this level as a secondary target. Stop Loss Strategy: • Key Level: Below $2800 • This represents a critical invalidation point. If Ethereum dips below this level, it would likely indicate a breakdown of the patterns mentioned, signaling potential further downside. • Since this is a weekly chart, patience is key. Short-term fluctuations and liquidation dips are common, so avoid overreacting to minor price movements. Timeframe & Approach: • Time Horizon: Weekly chart patterns generally take longer to develop and fully play out. This projection anticipates growth and price appreciation into mid-2025. • Mindset: This is a longer-term analysis. Avoid emotional trading or reacting impulsively to short-term volatility. Ethereum’s price action may involve consolidation, retracements, and temporary corrections along the way – all part of the process. Summary: Ethereum’s weekly chart shows compelling bullish signals through both a cup and handle pattern and an inverse head and shoulders formation. This confluence increases the likelihood of further upside. With profit targets in the $5600-$6000 range, and extended targets as high as $7000 by mid-2025, Ethereum presents a promising opportunity for patient traders. A stop loss below $2800 ensures risk management while allowing room for price action to develop naturally. (ChatGPT made me do it lol)
BITSTAMP:ETHUSDLong
by TriumphOne
Ena/UsdtBINANCE:ENAUSDT ### **Ena Current Price: $1.0215 💰 (Resistance Level)** The current price of **Ena (ENA)** is at **$1.0215**, which is a **key resistance level**. A **resistance level** is a price point where the asset might face selling pressure, which could prevent the price from moving higher. In simple terms, **$1.0215** is a level where traders may decide to sell, thinking that the price might not go higher. If the price holds at **$1.0215**, it suggests that buyers are still active and willing to support the price at this level, but if the price manages to break above this resistance, we could see further upward movement. --- ### **If the Price Holds at $1.0215 🚀:** - **Resistance at $1.2032 🔝**: If the price manages to hold at **$1.0215** and continues its upward momentum, the **first resistance level** to watch is **$1.2032**. This is where the price may face increased selling pressure again, which could slow down or stop the price from moving further upward. - **Resistance at $1.3543 🌟**: If **$1.2032** is broken, the next major **resistance level** is **$1.3543**. If the price reaches this point, there may be a stronger resistance, and it could act as a ceiling for the price, making it harder to go higher. --- ### **If the Price Fails to Hold at $1.0215 🚨:** - **Support Levels:** - **$0.8222 🔻**: If **Ena (ENA)** fails to hold the **$1.0215** level and starts falling, the **first support level** to watch is **$0.8222**. Support levels represent prices where the coin might find buying interest, preventing the price from falling further. If the price reaches **$0.8222**, buyers may step in, creating a "floor" for the price. - **$0.7131 💥**: If **$0.8222** doesn’t hold, the next level of support is **$0.7131**. At this point, the price could face further downward pressure, but **support** at this level may help stabilize the price again if demand picks up. - **$0.5945 🌊**: If the price continues to drop, the **final support level** is **$0.5945**. This is a crucial level because if the price falls to this point and cannot bounce back, it could indicate a deeper downward trend. --- ### **Summary:** - **$1.0215** is a **resistance level** where price might struggle to go higher. - If **Ena (ENA)** holds at **$1.0215**, resistance levels at **$1.2032** and **$1.3543** could limit further upward movement. - If the price doesn’t hold at **$1.0215**, **support levels** at **$0.8222**, **$0.7131**, and **$0.5945** might provide a "floor" for the price to bounce back. --- ### **Conclusion:** - If **Ena (ENA)** maintains **$1.0215**, it could continue to test higher resistance levels at **$1.2032** and **$1.3543**. - If the price fails to hold **$1.0215**, the support levels at **$0.8222**, **$0.7131**, and **$0.5945** could come into play, potentially preventing further declines. --- **Not financial advice!** 🚨 Always do your own research and make decisions carefully! 📈
Long
by Wolftrader1337
The bull market is not over yet!This is probably the area of ​​interest from where we will try to increase to the 101k-102k area in the first phase. There was a liquidity takeover, at the end of the month some contracts expire and some are rushing to sell them faster. Don't panic, I don't think the bullish cycle is over, it just took a few out of the game. I put 2 scenarios that can happen in the next period. P.S: I'm not looking at scenario 3, but I would rather look at 110k 120k. But the market is unpredictable, who knows.
by CNC2788
Crypto Pick of the Day: ZENUSD (Spot) 🌟 Ready to Ride the Wave with ZENUSD! 🌟 🌍 Market Overview: ZENUSD is showing strong bullish potential on the D1 timeframe. With a promising setup, this is an excellent opportunity to position yourself for the next big move. 📊 Trade Plan: 📌 Entry: $13 - $15 – Optimal range for accumulation before the breakout. 🎯 Target: $24 - $28 – Targeting a solid growth of over 70%. ⏳ Horizon: 2 months – A mid-term hold aligning with market cycles. 🔍 My Strategy: Using RainBow MG3, my custom indicator, I’ve identified this setup as a high-probability trade. This tool helps me pinpoint key breakout levels and maximize gains. 🚀 What You Can Do Next: 💬 Let’s Connect: Have questions or want to discuss strategies? I’m here to help! 💡 Disclaimer: This is not financial advice. Always DYOR before making investment decisions. 🔥 ZENUSD is primed for action – Will you join the ride to $28? Let’s make it happen! 🔥
Long
by rainbow_sniper
ETHUSDT, D1 Chart, Double Top and Market Structure👋Hello Traders, Our 🖥️ AI system detected that there is an D1 timeframe ICT Short setup in ETHUSDT for Swing trade. Technically it is clearly that a double top formation and a LG at second top. Our idea: ETHUSDT is going to the extension target to the demand zone marked on the chart. May be a possibility back to the FVG before further down. So we only waiting for Short setup for swing trade and day trade in the coming 2 weeks. For more ideas, you are welcome to visit our profile in tradingview. Have a good day! Please give this post a like if you like this kind of simple idea, your feedback will bring our signal to next better level, thanks for support!
Short
by ICT_Trader_SB
RENDERUSDT: Strategic Support Zones at the Blue BoxesIn this analysis, the blue boxes stand out as potential support areas worth close attention. These zones are significant for two key reasons: They align with demand areas, where buying pressure is likely to increase. They act as first lines of defense, offering a possible halt to further downside movement. Trading Plan Focus on Lower Time Frame Reactions: Observing price behavior within the green line and the blue box zones is essential. Key indicators include bullish candlestick patterns, volume surges, or other signs of reversal. Long Trade Opportunities: If positive reactions occur in these areas, long trades can be structured with well-defined entry, stop-loss, and target levels. Summary The blue boxes in RENDERUSDT represent high-probability support zones, combining technical demand with structural significance. By analyzing the lower time frame reactions, traders can position themselves for potential upside opportunities while managing risks effectively. I keep my charts clean and simple because I believe clarity leads to better decisions. My approach is built on years of experience and a solid track record. I don’t claim to know it all, but I’m confident in my ability to spot high-probability setups. My Previous Analysis 🐶 DOGEUSDT.P: Next Move 🎨 RENDERUSDT.P: Opportunity of the Month 💎 ETHUSDT.P: Where to Retrace 🟢 BNBUSDT.P: Potential Surge 📊 BTC Dominance: Reaction Zone 🌊 WAVESUSDT.P: Demand Zone Potential 🟣 UNIUSDT.P: Long-Term Trade 🔵 XRPUSDT.P: Entry Zones 🔗 LINKUSDT.P: Follow The River 📈 BTCUSDT.P: Two Key Demand Zones 🟩 POLUSDT: Bullish Momentum 🌟 PENDLEUSDT.P: Where Opportunity Meets Precision 🔥 BTCUSDT.P: Liquidation of Highly Leveraged Longs 🌊 SOLUSDT.P: SOL's Dip - Your Opportunity 🐸 1000PEPEUSDT.P: Prime Bounce Zone Unlocked 🚀 ETHUSDT.P: Set to Explode - Don't Miss This Game Changer 🤖 IQUSDT: Smart Plan ⚡️ PONDUSDT: A Trade Not Taken Is Better Than a Losing One 💼 STMXUSDT: 2 Buying Areas 🐢 TURBOUSDT: Buy Zones and Buyer Presence 🌍 ICPUSDT.P: Massive Upside Potential | Check the Trade Update For Seeing Results 🟠 IDEXUSDT: Spot Buy Area | %26 Profit if You Trade with MSB 📌 USUALUSDT: Buyers Are Active + %70 Profit in Total
Long
by XU99
What a Daily BTC Update looks like Thank you for reading my post! I appreciate the time you have taken to stop by, please leave me a comment. Every day for nearly 10 years, I have updated BTC in the various groups I have owned or worked for. Follow as I post them here for the next 7 days! BTC UPDATE 21/12/2024 BTC has shown resilience, bouncing successfully in the current region with a successful retest, indicating strong buying interest. However, we’re not out of the woods yet—the market remains cautious, and confirmation is still needed for the next bullish leg. Key Weekly Pivot to Watch: $100,831 The weekly pivot at $100,831 is the critical level to reclaim. A close above this pivot would signal renewed bullish momentum and confirm the bounce as more than a relief rally. There may still be one more retest in the lower region, but a more condensed corrective pattern would reflect the support as holding. Scenarios to Prepare For Bullish Case: Close Above $100,831 A weekly close above this pivot could open the door to: Testing resistance zones around $105K to $108K. Reaffirming BTC’s macro uptrend and restoring market confidence. Bearish Case: Failure to Close Above $100,831 If BTC fails to hold or close above this region: Expect a potential revisit to support around $95K to $94K. Increased sell pressure could lead to deeper retracements, possibly targeting $85K as a more substantial support zone. Key Indicators to Monitor Watch RSI and MACD for signs of overbought or oversold conditions near key levels. Volume: A strong breakout above $100,831 should be accompanied by increasing volume, signalling conviction from buyers. Daily and Weekly Candle Closes: Focus on higher timeframes (daily and weekly) for confirmation of direction. Momentum Indicators: Watch RSI and MACD for signs of overbought or oversold conditions near key levels.
by LisaNEdwards