ETH Price Setup: Why $2,840 Could Spark the Next Big Move

11月6日

ETHUSD has been underperforming compared to BTCUSD and some other major cryptocurrencies, yet recent developments hint at a potential shift. Despite facing a significant resistance cluster, ETH has shown resilience by breaking above a key volume profile Point of Control (POC) level on the higher timeframe, signaling the early stages of a bullish sentiment shift.

However, to sustain this momentum, ETH needs to conquer a critical resistance zone, marked by a 1-week Fair Value Gap (1W FVG) and a 1-day Order Block (1D OB) – a challenging area that will likely test ETH’s ability to break out.

Chart Analysis: Key Levels to Watch
Major Resistance Zone (1W FVG & 1D OB)
The most immediate challenge for ETH is closing above the resistance zone around $2,840. This area is crucial because it combines a 1W FVG and 1D OB, both of which create a barrier that ETH needs to break through for the next leg up.

A decisive close above this level on the daily chart would turn the 1D OB into a breaker block, potentially flipping it from resistance to support and laying the foundation for a more sustained bullish displacement.

Volume Profile POC Breakout
ETH has already broken above the higher timeframe volume profile Point of Control (POC), a positive sign that suggests market interest and liquidity are shifting upwards. This break above the POC adds to the semi-bullish case, as it often signals a potential move towards filling the FVG above.

Entry Into the 1W FVG (SIBI)
Should ETH successfully close above the $2,840 level, it would enter the 1W FVG, opening up the possibility for a larger upward move. Once in this zone, buyers could gain confidence, triggering additional buy-side liquidity and a rally towards $3,100 - $3,300.


Trade Setups
Swing Trade Setup

Entry: Look for a close above $2,840. Ideally, wait for a retest of this level to confirm it as a breaker block before entering long.

Target:
Primary Target: $3,100 - within the 1W FVG zone.
Secondary Target: $3,300 - higher end of the FVG, where resistance may intensify.
Stop Loss: Set below the 1D OB, around $2,750, to protect against a failed breakout and retracement.

Rationale: A breakout and successful retest of $2,840 would signal strength, allowing ETH to push into the FVG and potentially rally toward $3,300. If buyers are strong, this could lead to a medium-term bullish trend.


Scalping Setup

Entry: Enter long on quick pullbacks to $2,750 - $2,770, close to the 1D OB support zone, or during any small dips within this range.

Target:
First target at $2,840 for a quick profit.
Second target around $2,900 - $2,950 if momentum is strong.
Stop Loss: $2,730, slightly below the 1D OB level to protect against larger sell-offs.

Rationale: For scalpers, buying dips around the 1D OB level provides a quick entry with a high probability of retesting the resistance at $2,840. This setup allows for short-term gains while taking advantage of potential volatility near the key resistance area.


Looking forward to hearing your thoughts on this!
Trade safe folks,
Cheers

11月7日

交易進行

ETH has reached the key $2,840 level—now, it’s all about the close. Watch for a high-timeframe close above this level. If we get a solid daily close here, we could see the 1D OB flip to support, opening the path toward $3,100 and beyond.

For those considering entries, a confirmed close above $2,840 could signal strength. Swing traders may want to look for a retest of this level for a potential long entry, while scalpers can target short-term pullbacks within this zone. Remember, patience here can be key!

11月8日

註釋

Hey everyone!
If you missed the original entry we discussed, don’t worry—you’ve still got a chance. Keep an eye on the 4H timeframe for either a small pullback into the 4H FVG, or wait for a new breakaway gap after this consolidation to jump in.

ETH is still showing a strong potential to follow the chart we planned, so don’t miss out—this is shaping up to be an A+ trade setup!