ETH Targets $3,700: Bulls Maintain Control After Smart Money!

ETH/USDT 4H Chart Analysis (SMC Principles)
Market Structure:

ETH is currently trading at $3,403, displaying a bullish setup supported by healthy momentum and institutional accumulation.

Key levels:

• Support:
  
• Discount zone: $3,200 (major accumulation area).
  
• Stop-loss level: $3,280 (below recent liquidity sweep).
  
• Resistance:
  
• FVG target: $3,550.
  
• Premium zone: $3,700-$3,800 (key area for distribution).
  

Momentum:

• RSI: At 59.27, showing healthy bullish momentum.
  
• Hidden bullish divergence: Observed on RSI vs price action from January 9th lows, indicating potential for further upside.
  

Trade setup:

• Entry: Current level ($3,403).
  
• Targets:
  
• T1: $3,550 (FVG fill).
  
• T2: $3,700 (premium zone).
  
• Stop-loss: Below $3,280 to limit downside risk.
  
• Risk-to-reward: Favorable setup with strong potential if support at $3,280 holds.
  
• Confidence level: 8/10 for bullish continuation.
  

Market Maker Activity:

• Likely accumulation in the $3,000-$3,200 range, as evidenced by strong buying interest.
  
• Expect market makers to push the price higher to take out stops above $3,550 before any significant pullback.
  

Considerations:

• Volume confirmation: Monitor volume near $3,550 to ensure momentum supports a breakout.
  
• Support retest: Watch for any pullbacks to $3,400-$3,350 as potential entry zones for better R:R.
  
• Premium zone reaction: Be prepared for resistance or distribution near $3,700-$3,800.
  

This setup suggests a bullish continuation with strong targets at $3,550 and $3,700, backed by clear institutional activity and momentum.