ETH/USDT Ready for a Bullish Rally? Key Breakout Levels to Watch

Hey Traders!
Ethereum just delivered a strong move on the 1H chart – let’s break down the setup:

📊 Trend:
Momentum has shifted bullish! ETH has smashed through both the 50 and 200 moving averages, and price is riding above the mid-Bollinger band.

⭐️ Key Levels:

Support:
2
,
589
(
M
A
200
)
,
2,589(MA200),2,572 (Bollinger Middle Band)
Resistance: 2,656 (upper band & recent high), next target 2,690
🔎 Technical Indicators:

RSI: 62 – showing healthy bullish momentum, not yet overbought
MACD: Bullish crossover and expanding, confirming strength
Volume: Notice the volume pick-up on the breakout, increasing conviction!
🎯 Trading Plan:

Direction: LONG
Entry: $2,605
Stop-loss: $2,572 (below recent cluster & MA200 for tight risk)
Take-Profit 1: $2,656
Take-Profit 2: $2,690
💡 Confidence: Medium – watch for follow-through above $2,656 for extra confirmation!

🔥 Extra Notes:
Breakout traders, this could be the push for a new leg up. No bearish divergence on indicators; momentum is with the bulls. Watch closely for any fake-outs – a tight stop keeps risk controlled.

Will ETH keep rallying or will the bears step back in?
Drop your thoughts below! 👇🚀

#ETH #Ethereum #Crypto #TradingSignal #Bullish #Breakout #TradingView

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