ETH Analysis and Updates
Ethereum is taking a retest after pumping for 3 consecutive days and is currently sitting on its trend line support area on the 1h and 4h charts. However, there are 2 major obstacles for Ethereum right now. If Ethereum breaks through these, its next target will be 3500 to 4100.
According to the 1h and 2h charts, Ethereum has trend line support, but it also has horizontal resistance and a bull flag pattern trend line resistance that needs to be crossed. As long as Ethereum is below 2960, there's a higher chance of it going down to 2800, which could be a retest level.
The 2800 level previously provided significant resistance before the pump, so it could act as a key support level now. A retest of this level would be necessary for market continuation, and Ethereum could make a great move from here.
On the weekly chart, closing above 2820 is crucial, and further continuation is expected from there.
In my opinion, the market could continue its upward trend, and Ethereum and other altcoins might pump further. I've shared some coins that are near our entry points, and you can still enter them.
