đˇ Letâs take a look at ETH.
âď¸ So, the key point: the $3,020 level has been reached. This means that everything below $3,200, as I mentioned earlier, is interesting for accumulation and observing price reaction, which is what we are seeing now. At the moment, we have a fairly aggressive move into our zone of interest, a potential area where buying volume could come in.
â ď¸ Now it is very important to see a slowdown. This is crucial. At least for Tuesday to trade in a slower manner. Essentially, we had an interaction with the significant $3,100 level. We took out that level and moved into the inefficiency zone below, where buying volume came in.
Next, we are forming accumulation, manipulation, and distribution. That is, there is already some price action here that we are testing. I want to see the same pattern but on lower timeframes, such as the 4-hour or 1-hour charts. Itâs extremely important to keep an eye on all this and get a strong breakout to the upside.
đ The next targets are $3,450, $3,526, and then reaching our structural high of $3,747. After that, we aim for a new ATH breakout at $5,000+.
I am more than confident that this is realistic. Weâll keep monitoring, and Iâll keep you updated.
