ETHUSD is currently in a strong recovery phase, traded near 2606.60 after bouncing sharply from the major support zone at 1570.29. The pair is approaching a key resistance at 2795.89, and price action reflects growing bullish sentiment.

ETHUSD has produced four consecutive bullish weekly candles, indicating a solid recovery. Price is now above both the Tenkan-sen and Kijun-sen, signaling bullish short-to-medium term momentum. However, the price remains below the Kumo (cloud), which still represents a longer-term resistance zone, and the trend is not fully reversed until a clean breakout above the cloud occurs.

Bulls Power is currently at 386.62, showing sustained bullish pressure and increasing buying volume over recent weeks. This positive divergence supports the ongoing recovery, although current price proximity to resistance may attract profit-taking.

Market Observation & Strategy Advice
1. Current Price is around 2606.60, following a strong bounce from the weekly support level at 1570.29.
2. Major Resistance stands at 2795.89; a confirmed breakout above this level could open the path toward the Kumo zone and potentially the 3000+ area.
3. Support Levels to monitor include 2606.60 (recent breakout level) and 1570.29 (major weekly support).
4. Momentum & Indicators Ichimoku Signals short-term bullishness as price trades above Tenkan and Kijun, but the trend remains capped by the cloud, and resistance ahead could slow upside moves.
5. Trading Strategy Suggestions:

• Buy on Break & Close Above 2795.89 – Target: 3000 and 3150.
• Buy Pullbacks Toward 2400–2300 – Ideal re-entry zone with bullish confirmation above Kijun-sen.
• Place Stop Loss Below 2200 – To manage risk against a failed breakout scenario.
• Short-Term Bias: Bullish, driven by Ichimoku support and rising Bulls Power.
• Watch 2795.89 Closely – Rejection here could trigger a corrective retracement back to 2400 or lower.
  
  

Market Performance:
Crypto      Last Price    % Change
BTCUSD     110,356.71      +0.61%
XRPUSD      2.41250         +0.69%

Today’s Key Economic Calendar:
DE: HCOB Manufacturing PMI Flash
UK: S&P Global Manufacturing PMI Flash
US: Existing Home Sales