All Eyes on ETH 👀

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈 After rejecting the lower boundary of the red wedge pattern, ETH has displayed bullish behavior.

However, it is currently approaching a robust resistance zone between 2150.0 and 2300.0, intersecting with the upper red trendline, thus acting as an overbought zone.

To maintain control and establish a long-term bullish perspective, a weekly candle close above 2300.0 is essential for the bulls. If achieved, a movement toward the next resistance at approximately 3000.0 could be anticipated.

📉 Conversely, as long as ETH trades below 2300.0, the possibility remains for bears to initiate a correction, with confirmation likely on lower timeframes.

Monitoring the price action around this key level will provide valuable insights into the market direction.

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich