ETH/USDT Analysis (1D)
2024-12-07

Ethereum is maintaining strong bullish momentum, currently trading at  $4,020 (+6.20%) . The price action shows a clear bullish trend, with signs of further growth potential. Let’s dive into the details 👇

 📊 Current Market Overview
 
	1.	 Trend : A steady uptrend is visible, supported by higher highs and higher lows.
	2.	 Key Levels :
	•	Resistance: $4,020 — the current price is testing a significant resistance level. A breakout could lead to $4,400–$4,500.
	•	Support: $3,600 — a solid support level that has previously served as a springboard for buyers.
	3.	 Volume Profile : The visible range shows high interest in the $3,600–$4,000 area, reinforcing these levels as critical zones.

 📉 What Do the Indicators Say? 

	1.	 Midas Multi Indicator: 
	•	The Buy (5) signal remains active and continues to play out well. Price action is in the upper half of the channel, indicating strong bullish control.
	•	The next significant resistance aligns with the upper boundary of the trend channel around $4,400.
	2.	 RSI : Nearing the overbought zone, but still not signaling an imminent reversal. The strong trend may sustain for some time before a pullback.
	3.	 MACD : Momentum remains positive, with the MACD lines diverging and supporting further upside movement.

 🔮 Price Movement Forecast 

	•	Probability of Growth: 75% 🚀. A breakout above $4,020 could push ETH to $4,400 or even higher.
	•	Probability of Correction: 25% ⚠️. A pullback toward $3,600 is possible, providing an opportunity for buyers to re-enter.

 🎯 What Am I Doing? 

	1.	Holding my long position and waiting for a breakout confirmation above $4,020. If confirmed, I’ll aim for $4,400.
	2.	If a correction occurs, I plan to buy more in the $3,600–$3,700 range to ride the next wave of growth.

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