Ethereum Bullish Outlook: Targeting $8,000 During Altcoin Season

5 Jan

ETHUSDT
ETHUSD
📈Which side you pick?
Bulls or Bears

Pine Script®

• After the alt-season scenario occurs, a very likely target for ETH/USDT is around $8,000. Currently, the price is stabilizing, and if it remains within this zone, a strong breakout could drive the price up to the $8,000 target.
  
• In another scenario, if the price breaks below the red zone, a lower dynamic support line could provide protection for buyers around the $2,500 to $2,600 range.
  

👾Note: The setup is active but expect the uncertain phase as well. also movement lines drawn to predict future price reactions are relative and approximate.


➡️Entry Area:
Yellow zone

⚡️TP:
4K
5.2K
6K
6.8K (Risk-free level)(if the price reached this level, risk-free your positions.)
8K

🔴SL:
2850$

🧐The Alternate scenario:
If the price stabilizes against the direction of the position, below or above the trigger zone, the setup will be canceled.