In RandomBlock, every number has its reason. We don't throw darts in the air; we read the market structure. After successfully completing our entry at $2,307, many are asking: Is it realistic to expect $2,335 in today's session?
The short answer is YES, and here are the technical fundamentals:
The Liquidity Reabsorption:
As we observed in the 9:30 AM chart, the market made a "sharp" bearish move that cleared the orders of impatient traders. Upon touching $2,307, we entered a zone of high institutional demand. The speed at which the price recovered to $2,315 indicates that there are strong buyers defending the area.
The MA60 as a Springboard:
The price is crossing back up the 60-period moving average (the gray line on our chart). Historically, when the price recovers this line with volume after a pullback, it tends to seek the next important resistance level.
The Void up to $2,350:
If we analyze the range of the last 24 hours, the maximum is at $2,343. By placing our exit at $2,335, we are positioning ourselves just before the big wall of $2,340-$2,350. This drastically increases the chances that our order will be executed by "inertia" before the market finds real resistance.
Conclusion:
We are operating in favor of the recovery trend. $2,335 represents our net 1%, and based on the volume coming in after the New York opening, it is a technically solid target to successfully close our day.
Patience has already given us the entry. Now, discipline will give us the exit. 🛡️🚀
⚠️ Disclaimer: Educational and documentary content. We operate under our own risk management. #dyor
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