ETH Technical Analysis: Anticipating Lower High and Lower Low, Smart Money Concept Suggests Bullish Trend Continuation
Introduction: In the hourly timeframe, Ethereum (ETH) currently exhibits a lower low and lower high structure, aligning with the concept of smart money and signaling a potential continuation of the bullish trend. Notably, recent candle movements have demonstrated a strong imbalance, further supporting the overall bullish sentiment. This analysis highlights a potential trading opportunity with an entry price at the order block region of $1790, targeting $1836, and implementing a stop loss at $1780.
Analysis:
Lower Low and Lower High Structure: The hourly ETH chart reflects a lower low and lower high pattern, which is often an indication of a bearish trend. However, considering the smart money concept, we can anticipate another leg of lower high and lower low, potentially leading to a bullish reversal. Imbalance Candle Movement: Recent candle movements have displayed a strong imbalance, suggesting a significant presence of buyers and affirming the bullish sentiment in the market. This supports the notion that the overall trend remains positive.
Disclaimer: It is essential to note that cryptocurrency markets are characterized by high volatility. Therefore, it is strongly recommended to conduct thorough research, seek guidance from a financial advisor, and assess personal risk tolerance before making any investment decisions.
Please remember to exercise caution and make informed decisions when trading cryptocurrencies.