Based on the $ETH /USDT 1-hour chart you provided, Ethereum is currently in a high-stakes consolidation phase. We are seeing a battle between the bulls and bears right at the MA(25) and MA(7) crossover point.
With the price hovering around 2,973, the market is coiled like a spring. If we hold this support, we could see a rapid move back toward the local highs.
🚀 $ETH /USDT: The Bullish Breakout Setup
The trend shows a steady climb with the long-term MA(99) acting as a solid floor. Here is the trade configuration for a potential scalp or swing:
* Entry Price (EP): $2,970 - $2,975 (Current Market Price range)
* Take Profit (TP): $3,020 (Testing the previous wick high)
* Stop Loss (SL): $2,945 (Just below the recent consolidation wick)
⚡ Why This Trade?
* The Squeeze: Price is currently sandwiched between the Moving Averages. A break above the yellow line (MA 7) usually triggers a fast momentum move.
* Support Strength: The $2,960 level has repeatedly held as buyers step in, suggesting strong demand.
* Risk/Reward: High potential for a $45+ gain with a relatively tight stop loss to protect your capital.
Manage your risk carefully and watch the volume!
Would you like me to check the RSI or MACD indicators to confirm this entry momentum?
