ETH/USDT 4H Analysis: Bullish Momentum Targets $3,700 Resistance

ETH/USDT 4H Chart Analysis
Breakout confirmed: ETH has broken above the key resistance at $3,200, supported by strong bullish momentum and volume confirmation.

Current price: $3,441.

1. Key levels:
   

• Support: $3,200-$3,250 (established as a strong base).
  
• Resistance: $3,700-$3,800 (next major zone to watch).
  
• Recent reclaim: $3,200 (significant resistance flipped to support).
  
• Market structure: ETH's structure has flipped bullish, with higher lows forming, indicating sustained upward momentum.
  

1. Trade setup:
   

• Entry: Current level ($3,441) or on a pullback near $3,250.
  
• Target: $3,700 (major resistance zone).
  
• Stop loss: Below $3,200 to minimize downside risk.
  
• Risk-to-reward: Favorable setup with significant upside potential if $3,700 target is achieved.
  
• Confidence level: 8/10, suggesting a strong probability of continued bullish movement.
  

1. Considerations:
   

• Momentum check: Ensure volume remains high to support the upward move.
  
• Risk management: Keep the stop loss tight to limit losses but avoid premature stop-outs.
  
• Resistance zone watch: Monitor price action around $3,700-$3,800 for potential profit-taking or rejection.
  

This setup aligns with a bullish outlook, but caution is advised near resistance zones. Always manage risk effectively.