$ETC Long set up🚨
Based on the $ETH /USDT 1-hour chart, here is a long signal setup using the current price action and Bollinger Band indicators.
Trade Setup: ETH/USDT (Long) 📈
The price has shown a strong rejection from the 2,021.50 support level and has successfully reclaimed the Bollinger middle band (MB: 2,050.16). This indicates a short-term bullish reversal after the recent dip.
* Entry Zone: $2,050.00 – $2,056.50
* Target 1: $2,073.40 (Upper Bollinger Band resistance)
* Target 2: $2,084.00 (Recent local high)
* Target 3: $2,105.00 (Psychological breakout level)
* Stop Loss: $2,020.00 (Just below the recent wick low)
Technical Analysis Observations
* Bollinger Bands: After hugging the lower band (DN: 2,026.92), the price has printed a large green candle that broke through the middle band. Sustaining above 2,050 is key for the continuation of this move.
* Price Action: The "V" recovery from 2,021.50 suggests aggressive buying at lower levels.
* Volume: There is an uptick in buying volume on the 1-hour recovery candles, confirming the shift in momentum.
Long here$ETH