$ETH update
Coin name: ETH
Long
Price:
1)1382
2)1500
(Enter on entry price)
On the weekly timeframe, Ethereum (ETH) appears to be forming a potential W-pattern, or double bottom structure. While this is typically a bullish reversal signal, current geopolitical tensions—particularly the escalating conflict between Iran and Israel 🇮🇱—pose a significant risk to market stability. If the conflict intensifies, broader market sentiment may remain bearish in the short term.
From a longer-term perspective, my outlook on ETH remains bearish based on the chart setups I’ve shared. Additionally, ETH dominance is likely to decline further and approach a key support zone. Once the W-pattern is fully confirmed and support holds, we may start to see bullish momentum building up.
Moreover, Total2’s Money Flow Index (MFI) is also forming a similar double bottom pattern. If this pattern plays out, it could signal a broader market recovery aligned with improving capital inflow into altcoins.
5x leverage isolated
Sl: 1250
Target:
1) 1700
2)2000
3)2500
4)2800
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