ETH aiming for a good support zone
Idea: Short
Horizon: 1-2 weeks
Target 1: 1740.61
Target 2: 1715.24
Target 3: 1688.29
Potential of the idea: 58%
Stop order: ≈1911.85
Technical analysis
The price is holding at the support level, a strong zone where we are considering a reversal is located below (the area is marked in green). On May 24th, an absorption candle was formed, a short position can be considered during a correction, the main thing is to wait for reversal formations, we do not place limit orders in advance.
The RR ratio when reaching Target 1: 1 to 2 After reaching Target 1, we advise moving the stop-loss to breakeven.
You can only enter after confirmation on younger time frames.
Fundamental analysis
After poor PCE indicators, many traders and investors began to factor in a 0.25% interest rate hike in June, which will negatively affect the stock and crypto markets.
Horizon: 1-2 weeks
Target 1: 1740.61
Target 2: 1715.24
Target 3: 1688.29
Potential of the idea: 58%
Stop order: ≈1911.85
Technical analysis
The price is holding at the support level, a strong zone where we are considering a reversal is located below (the area is marked in green). On May 24th, an absorption candle was formed, a short position can be considered during a correction, the main thing is to wait for reversal formations, we do not place limit orders in advance.
The RR ratio when reaching Target 1: 1 to 2 After reaching Target 1, we advise moving the stop-loss to breakeven.
You can only enter after confirmation on younger time frames.
Fundamental analysis
After poor PCE indicators, many traders and investors began to factor in a 0.25% interest rate hike in June, which will negatively affect the stock and crypto markets.
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