#EthereumFuture

#Ethereum ($ETH) analysis with more details in clear, easy-to-understand language:

Ethereum ($ETH) has been showing some interesting moves lately, and here’s what I’m seeing. In my last update, I pointed out that ETH was likely forming a bottom at a specific price level—and sure enough, that’s exactly where it stopped falling before surging by 34%. Now, ETH is trading near some key CME gaps (these are price gaps left on futures charts that often get filled later), so we might see some short-term movement as the market tries to close those gaps. Currently, ETH is testing a strong resistance level based on Fibonacci retracement, which is a common technical indicator traders watch. Since prices often struggle to break through these levels on the first try, this could be a good spot to secure some profits. If ETH gets rejected here, it might pull back toward the $1200 zone, where there’s strong support. However, I don’t think that’s the most likely scenario—unless we see a daily candle close above this resistance, which would mean ETH is breaking out and could keep climbing.

Looking at the bigger picture, ETH has been underperforming Bitcoin (BTC) since May 2021, but it’s now sitting on a major monthly support level. If this support holds, ETH could start outperforming BTC in the coming months, which would be a big shift in momentum. But if this support fails, it could lead to a deeper drop, so it’s important to stay cautious. For now, I expect a short-term dip (since there’s a lot of liquidity—or trading interest—below $1700), but after that, ETH could see a strong upward move. Always remember to manage risk—keep some cash (USDT) ready in case of a deeper pullback, but also be prepared for a potential breakout. If you find this helpful, don’t forget to like, follow, and share your thoughts! Happy trading! #EthereumFuture #BinanceAlphaAlert

#ETH #crypto