Technical analysis by Alexgoldhunter about Symbol ETH: Buy recommendation (12/27/2024)

ETHUSD ETH/USD: Smart Money Concepts and Price Action Analysis for Optimal EntriesAnalysis:Price Action Strategy:Support and Resistance Levels:Key support level at approximately 3,316.6 USD.Key resistance level at approximately 3,387.5 USD.Trend Analysis:The chart shows a recent downtrend with multiple Break of Structure (BOS) and Change of Character (CHoCH) indicating potential reversals.The price is currently testing an Order Block (OB) around 3,370.6 USD, suggesting a potential buy opportunity if the price holds above this level.Smart Money Concepts (SMC):Order Blocks (OB):A bullish OB is identified around 3,370.6 USD, indicating a potential buy zone.A bearish OB is identified around 3,387.5 USD, indicating a potential sell zone.Break of Structure (BOS) and Change of Character (CHoCH):Multiple BOS and CHoCH are marked, indicating shifts in market structure and potential entry points.ICT Strategy:Fibonacci Retracement Levels:Key Fibonacci levels are marked: 0.382 (3,357.0 USD), 0.618 (3,324.1 USD), 0.705 (3,403.7 USD), and 0.786 (3,415.5 USD).The price is currently near the 0.382 level, suggesting a potential retracement and buy opportunity.Volume Profile:High volume nodes around 3,380.6 USD and 3,370.6 USD indicate significant trading activity and potential support/resistance zones.Indicators:RSI:RSI is currently around 49.00, indicating neutral momentum but potential for a bullish reversal if it moves above 50.MACD:MACD shows a potential bullish crossover, suggesting a buy signal if confirmed.Buy Opportunity:entry: 3370.6tp1: 3387.5tp2: 3415.5sl: 3316.6Follow Alexgoldhunter for more strategic ideas and mindsTP1 HIT SUCCESSFULLYTP2 HIT SUCCESSFULLY