Ethereum Futures Analysis for Today – Trade Compass

Key Levels and Bullish Outlook

Ethereum futures are currently trading around 2714, placing the market in bullish territory according to today’s tradeCompass. Our bullish threshold is 2690, which is the Point of Control (POC) from February 12th. Since we are already above this level, the market favors buyers for now.

Several additional key levels reinforce this bullish stance:

  • 2703 – Today’s session VWAP, a key intraday reference.
  • 2706 – The Value Area High (VAH) from February 12th, a critical resistance-turned-support level.
  • 2709 – The February 7th VWAP close, another historical liquidity reference.

Since Ethereum is trading above all these levels, the bias remains bullish. However, traders looking for optimal long entries may consider a potential retest near 2710, which is today’s developing POC.

Note: The POC of today is dynamic and can shift as volume accumulates. It is not as static as the previous days’ POCs but remains an essential level for entries and reactions.

Profit Targets for Bullish Positions

If bulls maintain control above 2690, these are the key upside liquidity targets for profit-taking:

  1. 2729 – Close to today’s developing Value Area High (VAH).
  2. 2747.5 – Just below the POC from February 6th and near the second upper standard deviation of VWAP from yesterday.
  3. 2796 – A major level just below the 2800 psychological round number, aligning with the VAH from February 7th.
  4. 2898 – A longer-term swing trade target, representing a strong resistance level from the VAH of February 4th.

Each of these levels represents high-liquidity zones where price reactions are likely. Bulls should consider partial profit-taking at these levels, allowing for adjustments based on market conditions.

Bearish Scenario and Key Profit Targets

While the market remains in bullish territory above 2690, a confirmed move below this level would activate bearish momentum. If that happens, the following targets come into play:

  1. 2671 – Just above the POC from February 11th and VAL from February 7th.
  2. 2636.5 – Above the VWAP from February 12th.
  3. 2606 – Above the VAH from two days ago.
  4. 2566.5 – Above the VAH from February 3rd, a major medium-term support level.

The 2566.5 level is a critical line in the sand for medium and swing traders. A sustained move below 2565 could open the door for a deeper bearish extension. However, as long as Ethereum remains above this level, bulls still have a path to reclaim higher levels.

Final Thoughts

Ethereum futures are currently in a bullish zone above 2690, with multiple support levels reinforcing the upside potential. Traders can use this analysis as an orientation for their decision-making, rather than a strict trading plan.

  • Above 2690 → Bullish bias, targeting 2729, 2747.5, and 2796.
  • Below 2690 → Bearish activation, targeting 2671, 2636.5, and 2606.
  • 2566.5 is the key swing-level threshold → A move below could lead to a larger bearish trend.

Trade Ethereum futures at your own risk. Visit ForexLive.com for additional perspectives.

Source: Forex Live