ForexLive presents the Ethereum Trading Map for today, courtesy of Trade Compass. With Ethereum futures trading around 2714, the market is showing a bullish trend according to the latest Trade Compass insights.
The bullish threshold is set at 2690, the Point of Control (POC) from February 12th. As the market is above this level, it currently favors buyers. Several key levels further bolster this bullish perspective:
- 2703 – Today’s session’s Volume Weighted Average Price (VWAP), an important intraday benchmark.
- 2706 – The Value Area High (VAH) from February 12th, a significant resistance level that has turned into support.
- 2709 – The VWAP close from February 7th, another historical liquidity reference point.
Since Ethereum is above all these levels, the bias remains bullish. Nevertheless, traders looking for optimal long entries may consider a potential retest near today’s developing POC at 2710.
If the bullish trend continues above 2690, key liquidity targets for profit-taking include 2729, 2747.5, 2796, and 2898. These levels are high-liquidity zones where price reactions can be expected. Bulls should consider taking partial profits at these levels, adjusting as per market conditions.
But if the market dips below 2690, a bearish momentum is triggered. Potential targets in this scenario include 2671, 2636.5, 2606, and 2566.5. The last level, 2566.5, is critical for medium and swing traders. If Ethereum dips below this level, a deep bearish trend could set in. However, as long as Ethereum remains above this level, bulls have a chance to regain control.
To conclude, Ethereum futures are showing bullish signs above 2690, with several support levels strengthening the upside potential. While this analysis provides a useful orientation, it should not replace a trader’s individual trading plan. Traders are reminded to approach Ethereum futures trading with caution and seek additional insights at ForexLive.com.
