Hello Traders, welcome back to another market breakdown.
ETHUSD is showing strong bullish momentum after the BTCUSD breakout above 69K. However, the price of ETH is still in a trading range. Hence, instead of jumping in at current levels, I recommend waiting for a pullback into the middle of the range zone for a more strategic entry.
If the pullback holds and buying confirms, the next leg higher could target:
First Resistance: Immediate levels formed during prior consolidation. Second resistance: All-time high around 5000.
Stay disciplined, wait for the market to come to you, and trade with confidence!