Overview
Timeframe: 1 Hour (1H)
Current Price: ≈ $4,675
Structure: Upward ascending channel
Trend Bias: Bullish (short-term), but potential retracement expected.
🧭 Key Levels
Resistance Level: Around $4,700–$4,720 (upper boundary of the channel)
Demand Zone (Support): $4,440 – $4,510
Target Point: $4,776 – $4,780
📊 Technical Interpretation
Price Movement:
ETH has been moving steadily in an upward channel. It recently hit the upper resistance of the channel and faced minor rejection — indicating a potential short-term pullback.
Expected Correction:
A retracement toward the demand zone (around $4,440–$4,510) is likely.
This area coincides with previous consolidation and aligns with the lower trendline support.
Possible Reversal Zone:
Once price retests the demand zone, bullish pressure may return, targeting the upper resistance and the target level near $4,776.
Trend Continuation Scenario:
If ETH holds above $4,440, the bullish structure remains valid and price could retest $4,776 and potentially break higher.
Invalidation:
A 4H candle close below $4,438 would break the structure and suggest deeper downside toward $4,350.
🎯 Trading Plan (Conceptual)
Buy Zone: $4,440 – $4,510
Take Profit: $4,770 – $4,800
Stop Loss: Below $4,430
Risk–Reward Ratio: ≈ 1:3 (favorable setup)
📈 Summary
Short-term: Possible correction to demand zone
Mid-term: Bullish continuation toward $4,776
Bias: Bullish above $4,440 / Bearish below $4,430
Timeframe: 1 Hour (1H)
Current Price: ≈ $4,675
Structure: Upward ascending channel
Trend Bias: Bullish (short-term), but potential retracement expected.
🧭 Key Levels
Resistance Level: Around $4,700–$4,720 (upper boundary of the channel)
Demand Zone (Support): $4,440 – $4,510
Target Point: $4,776 – $4,780
📊 Technical Interpretation
Price Movement:
ETH has been moving steadily in an upward channel. It recently hit the upper resistance of the channel and faced minor rejection — indicating a potential short-term pullback.
Expected Correction:
A retracement toward the demand zone (around $4,440–$4,510) is likely.
This area coincides with previous consolidation and aligns with the lower trendline support.
Possible Reversal Zone:
Once price retests the demand zone, bullish pressure may return, targeting the upper resistance and the target level near $4,776.
Trend Continuation Scenario:
If ETH holds above $4,440, the bullish structure remains valid and price could retest $4,776 and potentially break higher.
Invalidation:
A 4H candle close below $4,438 would break the structure and suggest deeper downside toward $4,350.
🎯 Trading Plan (Conceptual)
Buy Zone: $4,440 – $4,510
Take Profit: $4,770 – $4,800
Stop Loss: Below $4,430
Risk–Reward Ratio: ≈ 1:3 (favorable setup)
📈 Summary
Short-term: Possible correction to demand zone
Mid-term: Bullish continuation toward $4,776
Bias: Bullish above $4,440 / Bearish below $4,430
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
join my telegram channel t.me/goldmitalteamhttps://t.me/goldmitalteam
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.