Introduction: ๐ Ethereum (ETH) is breaking free from the confines of a descending channel, signaling a pattern of continued upward momentum. Traders are eyeing a potential long entry, with the option to wait for a retest and bounce. Let's delve into the details of this exciting scenario.
Trade Details: ๐ฐ Long enthusiasts are entering the scene, considering positions at ~$2300 - $2240 - $2200. The strategy aligns with the breakout scenario (as per the provided link) or opting to wait for a retest for a bounce.
Technical Analysis: ๐ Ethereum's price has breached the upper boundary of a descending channel, indicating a pattern conducive to sustained upward movement. The potential long entry points offer traders flexibility, either entering immediately upon the breakout or waiting for a retest.
Expectations and Targets: ๐ฏ Traders eye ambitious targets of $2340 - $2370 - $2400 - $2450 - $2500 as Ethereum ventures into a potentially robust bullish phase.
Stop-Loss: ๐ To mitigate risks, a stop-loss is set at $2150, safeguarding traders from unexpected market fluctuations.
Conclusion: ๐ Ethereum invites traders to ride the wave of upward momentum. Whether you enter immediately or patiently wait for a retest, prepare for an exhilarating journey as ETH aims for new heights! ๐น๐