$ETH
Hi, I'm Javeria, and despite the recent downtrend, Ethereum/TetherUS is exhibiting encouraging signs of a potential bullish reversal, with a rejection at 2,101.77 and a consolidation phase around 2,188.11.
Present: Ethereum/TetherUS is currently consolidating around 2,188.11, with a potential bullish reversal in sight, as the rejection at 2,101.77 and support levels at 2,149.41 and 2,101.77 suggest weakening selling pressure.
Future: With a potential break above the key resistance level of 2,210.96, Ethereum/TetherUS is poised for a potential upward move, potentially reaching 2,500-2,800 levels in the near term, driven by increased buying pressure and bullish sentiment.Despite the recent downtrend, Ethereum/TetherUS is showing encouraging signs of a potential bullish reversal. The rejection at 2,101.77 followed by a consolidation phase around 2,188.11 suggests that the selling pressure is weakening and buyers are stepping in. This consolidation could be a prelude to a new uptrend, especially if the price manages to break above the key resistance level of 2,210.96.
The highlighted support levels at 2,149.41 and 2,101.77 further reinforce the bullish outlook. A decisive break above 2,210.96, accompanied by increased volume and bullish candlestick patterns, would confirm the start of an upward trend. Traders should closely monitor the price action for confirmation signals and consider entering long positions with a tight stop-loss below 2,101.77. The overall price action suggests that Ethereum/TetherUS is poised for a potential upward move, and traders should be prepared to capitalize on the opportunity.