Ethereum (ETH/USD): Bullish Momentum Building

l’altro ieri

Ethereum is currently trading within a rising channel pattern, indicating sustained bullish momentum. Here's the breakdown:

1.Support Levels:

• Strong support at $3,080 (marked as 4H Support) has held firm, preventing further downside.
  
• The ascending trendline is providing consistent upward pressure.
  

2.Resistance Zones:

• Immediate resistance at $3,143 (30m Resistance).
  
• Key level to watch is $3,224 (4H Resistance), which aligns with the upper boundary of the channel.
  

3.Volume & RSI:

• Volume is gradually increasing, indicating renewed buyer interest.
  
• RSI is rising from oversold levels, supporting a bullish outlook.
  

4.Target Levels:

• A breakout above $3,143 could propel ETH towards $3,224, the next significant resistance.
  

Bullish Scenario:
If ETH holds above $3,114 and breaks $3,143 decisively, expect a swift move toward $3,224. Beyond this, a continuation within the channel could aim for $3,280.

Risk management is key—watch the $3,080 support zone closely for invalidation of the bullish setup.