ETH/USDT: A Demand Zone That Can't Be Ignored
2025-01-10
Category: None


Ethereum has shown a significant bounce after breaking above the critical support level at  $2,870 . This move indicates a potential shift in momentum, aligning with the idea of a range change. Currently, ETH appears to be trading near the lower boundary of this new range, which presents an opportunity for a bullish continuation.

The  $3,100  level is identified as a key demand zone, as it was previously an area where buyers showed strength, driving the price higher. A potential entry around this level aligns with historical price action, making it a favorable zone for a long trade setup.

The trade plan suggests activating a long position at  $3,100 , with a tight stop-loss placed just below the  $2,870  level to manage risk. The initial target for this setup is  $3,744 , a significant resistance level where the price could encounter selling pressure.

The overall strategy hinges on the assumption that Ethereum has shifted to a higher trading range and that the current price zone near  $3,100  represents a strong accumulation area. If this thesis holds, a move toward  $3,744  could materialize in the coming sessions, provided that ETH maintains support at the  $3,100  level and sustains its bullish trajectory.

👨🏻‍💻💭  Are you ready to take advantage of this ETH setup? Let me know your thoughts below! 
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