ETH/USDT Analysis: Potential Upside with Caution
2025-01-18
Category: None

Ethereum (ETH/USDT) is trading within a descending triangle, currently near the $3,250 zone, a strong support level. Recent price action has respected this support multiple times, suggesting a possible rebound. A breakout above the descending trendline could push prices toward the target zone of $3,930-$4,000, aligning with Fibonacci extensions and resistance levels.

 Key Levels to Watch: 
Support: $3,000
Resistance: $3,500 (trendline), $3,930 (future target)
Indicators:

RSI is near 45, indicating neutral momentum with a potential for reversal.
ADX shows weak trend strength, but bullish divergence may develop.
Volume is decreasing, signaling a potential breakout on confirmation.
Trade Plan:

Entry: On breakout above $3,500 with confirmation (daily close).
Target: $3,930
Stop-Loss: Below $3,000 to manage risk.
Watch for rejection at $3,500 if volume fails to support the breakout. A break below $3,000 may invalidate the bullish setup.

Feel free to share your thoughts, feedback, or alternative perspectives to enhance this analysis further!