ETHUSDT is currently exhibiting a pattern of lower lows (LL) and lower highs (LH). However, there's a notable bullish divergence on the 1-hour time frame, signaling potential strength for a bullish reversal. Additionally, the price has broken above its last lower high, suggesting a shift in momentum.
Consider taking an immediate long position at the current market price (CMP) of 2482 with a stop loss (SL) set at 2415 to effectively manage risk.
The suggested take-profit (TP) level is set at a 1:1 risk-reward ratio:
Take Profit 1 = 2549
This trading strategy aims to capitalize on the potential bullish reversal. Keep a close eye on the market, and be prepared to adjust your strategy based on evolving price action.
Consider taking an immediate long position at the current market price (CMP) of 2482 with a stop loss (SL) set at 2415 to effectively manage risk.
The suggested take-profit (TP) level is set at a 1:1 risk-reward ratio:
Take Profit 1 = 2549
This trading strategy aims to capitalize on the potential bullish reversal. Keep a close eye on the market, and be prepared to adjust your strategy based on evolving price action.