Discover the latest ETH/USDT analysis, highlighting key support at $2,462 and resistance at $2,828. Explore the potential next move for Ethereum as it tests crucial levels for a breakout or retracement.
Key Support and Resistance Levels:
Resistance:
$2,828.69 to $2,727.12: This is the immediate resistance zone marked by previous price rejections. ETH is attempting to break through this zone.
$3,402.46: A major resistance level if the price successfully breaks through the $2,828 region.
Support:
$2,462.83: Immediate support, also close to a consolidation zone.
$2,410 – $2,442.45: A broader support zone to watch if the price starts to pull back.
$2,376.52 and lower down at $2,366.23: Stronger support from previous lows that could prevent further downside.
Trend Analysis:
The price appears to be in a recovery phase after bouncing from key support zones. However, ETH is nearing a crucial resistance zone around $2,727-$2,828, which could halt further upward movement if it fails to break above.
Next Move:
Bullish Scenario: If ETH breaks through the $2,828 resistance, the next move could target the upper trendline around $3,000 and ultimately $3,402.46.
Bearish Scenario: If the price fails to break $2,828, we could see a pullback toward the support levels at $2,462 or $2,376.
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🌐 Sources
tradingview.com – ETHUSDT trade ideas
barchart.com – Ethereum / Tether Cryptocurrency Trader’s Cheat Sheet
investopedia.com – Support and Resistance Basics