ETH/USDT 1H: Bulls Target $3,400 After Key Recovery!

ETH/USDT 1H Chart Analysis
🚀 Follow me on Tradingview if you respect our charts 📈
Current Price: $3,204

Market Structure:

• Bullish momentum following recent recovery.
  
• RSI: 57.77, showing moderate strength with room for further upside.
  

Key Levels:

• Support: $3,050 (previous resistance turned support).
  
• Resistance: $3,325 (supply zone).
  
• Premium Zone: $3,400-$3,425 (likely target for distribution).
  

Trade Setup (Confidence Level: 7/10):

• Entry Zone: $3,190-$3,210
  
• Targets:
  
• T1: $3,325
  
• T2: $3,400
  
• Stop Loss: Below $3,050
  
• Risk Score: 6/10 (manageable with tight stops).
  

Market Maker Analysis:

• Accumulation phase completed at $3,050.
  
• Distribution likely near $3,400+ (premium zone).
  
• Hidden Bullish Divergence: On RSI, supporting continued upward momentum.
  

Recommendation:

• Long position favored within the $3,190-$3,210 range.
  
• Monitor volume and price action as price approaches $3,325 for potential breakout toward $3,400.
  
• Tight risk management is key due to broader market volatility.
  
• Confidence Level: 7/10 for bullish continuation.
  

🚀 Follow me on Tradingview if you respect our charts 📈