ETH is currently testing the lower bounds of a crucial order block sandwiched between the overnight fair value gap and a key Fibonacci volume zone, with price action hovering around 2072 - a level that's been swept multiple times in the past 24 hours. This is a significant development, as a bounce from this zone could propel us back into the bullish trend that's been dominant on the higher time frames.
From a technical standpoint, the HTF bias remains bullish, with the RSI sitting at 18, indicating oversold conditions. Volume is relatively low at 0.2x, which suggests a lack of conviction from sellers. The SMC Score is neutral at 5.3/10, but the overall structure is looking increasingly bullish. We're seeing a clear OB+FVG sandwich zone, which is a high-probability area for a bounce.
Here are the key trade levels:
* Entry: 2094.36
* Take Profit 1: 2130.55 (RR 2.6x)
* Take Profit 2: 2184.84 (RR 6.6x)
* Stop Loss: 2080.62
I'm looking for a long entry at 2094.4, with a tight stop at 2080.6. This is a high-risk, high-reward trade, so make sure to manage your position size accordingly. Let's ride this wave, $ETHUSDT is looking poised for a breakout. Stay tuned for updates, and let's make some money! #BinanceSquare #ETH #CryptoSignals #Futures #SmartMoney