ETHUSD BULLISH TREND

11月17日

Key Data Points:
Current Market Price (CMP): 3,086.3 USD

Target Price (TP): 3,655.9 USD

Stop Loss (SL): 2,440.5 USD
A significant upward movement occurred in early November, followed by a slight pullback.
Currently, at 63.92, it shows that Ethereum is approaching overbought territory but hasn't reached it yet.
A strong upward trend starting from early November, showing bullish momentum.
A minor pullback follows the upward movement, which is typical in a trending market as traders take profits.
The stop-loss level is set at 2,440.5 USD, indicating a strong support zone. This level is critical to watch for any downward break which might signal a trend reversal.
The target price of 3,655.9 USD serves as a resistance level. If Ethereum reaches this level, it may face selling pressure.
At the current market price (CMP) of 3,086.3 USD, this could be a potential entry point, provided the uptrend continues.
Set TP at 3,655.9 USD. This is the level to consider taking profits if the price reaches it.
Place SL at 2,440.5 USD to limit potential losses if the market moves against the position.
Watch for the RSI to remain below 70 to avoid entering at an overbought level. If the RSI continues to climb without exceeding 70, it confirms the bullish momentum.
Ensure the stop loss is firmly set to manage risk.
Monitor for any significant market news or events that could affect Ethereum’s price.