Ethereum has really broken out from that point of 1,985.
Now Ethereum is trading above the resistance zone of 2,050 to 2,060. The funding is still a bit negative, at -0.0024 percent. This means that people are still betting against Ethereum even though the price of Ethereum is going up. Usually this kind of situation helps Ethereum keep going up long as Ethereum has enough momentum to keep it going.
The overall trend is looking good now. It is going up with each peak being higher than the one and a lot of people are buying and selling, which is a great sign for the market. The market trend is looking bullish, with highs and people are really getting into it with strong volume participation. The trend is really going up. People are taking part in it.
Trade Plan – Pullback Long (Swing Setup)
Entry Zone: 2,020 – 2,060
Stop Loss: 1,920
Targets:
• 2,200
• 2,350
• 2,520
• Extended: 2,800
Leverage: 2x–4x conservative
Risk–Reward: Approximately 1:3+ toward TP2–TP3
Setup Logic
The area from 2,000 to 2,020 is very important for the price of Ethereum now. This is because it is the area that people want to buy Ethereum. Long as the price of Ethereum stays above 1,920 at the end of each day people who think the price will go up are still in a good position. If the price of Ethereum can stay above 2,110 for a time it will probably make the price go up even faster and reach 2,200 or more, for Ethereum.
If the price goes below 1,920 that is when you will see a drop and this will mean that the price of the thing we are talking about which is the price is going to go down even more and we will have a deeper retracement phase, for the price.
This is a momentum continuation setup — avoid chasing extended candles and maintain disciplined risk management.