$ETH Analys
Hey everyone, I’ve put together a detailed analysis on Ethereum (ETH) today — let’s dive right in.
In my previous post, I mentioned that ETH was likely forming a local bottom at a specific price level (refer to the first screenshot). I also suggested starting to accumulate at that point — and that call was spot on. Since then, ETH has surged by 34%.
Currently, there are several CME gaps around the current price area (see the second screenshot). These gaps are likely to be filled in the coming days.
At the moment, ETH is facing resistance around a key Fibonacci level (check the third screenshot). This zone is ideal for taking partial profits. If ETH consolidates here and faces rejection, we could see a dip toward the weekly order block near the $1200 range. While I think that scenario is unlikely, it’s wise to keep some USDT ready in case ETH retraces to that level. For the bullish outlook to remain valid, ETH needs to close a daily candle above this resistance zone.
Since May 2021, ETH has been underperforming compared to BTC. However, it’s now sitting on a strong monthly support level (refer to the fourth screenshot), which could trigger a reversal. I’m expecting ETH to begin outperforming BTC in the coming months. But breaking below this support would be a serious bearish sign for ETH.
To sum it up — a minor pullback is possible, especially with liquidity resting below the $1700 level. But following that, I expect a strong move to the upside.
If you find this analysis helpful, don’t forget to like, follow, share, and drop a comment.
Happy Trading!
#EthereumFuture #BinanceAlphaAlert
Let me know if you want a more casual or more technical tone.
4o
Hey everyone, I’ve put together a detailed analysis on Ethereum (ETH) today — let’s dive right in.
In my previous post, I mentioned that ETH was likely forming a local bottom at a specific price level (refer to the first screenshot). I also suggested starting to accumulate at that point — and that call was spot on. Since then, ETH has surged by 34%.
Currently, there are several CME gaps around the current price area (see the second screenshot). These gaps are likely to be filled in the coming days.
At the moment, ETH is facing resistance around a key Fibonacci level (check the third screenshot). This zone is ideal for taking partial profits. If ETH consolidates here and faces rejection, we could see a dip toward the weekly order block near the $1200 range. While I think that scenario is unlikely, it’s wise to keep some USDT ready in case ETH retraces to that level. For the bullish outlook to remain valid, ETH needs to close a daily candle above this resistance zone.
Since May 2021, ETH has been underperforming compared to BTC. However, it’s now sitting on a strong monthly support level (refer to the fourth screenshot), which could trigger a reversal. I’m expecting ETH to begin outperforming BTC in the coming months. But breaking below this support would be a serious bearish sign for ETH.
To sum it up — a minor pullback is possible, especially with liquidity resting below the $1700 level. But following that, I expect a strong move to the upside.
If you find this analysis helpful, don’t forget to like, follow, share, and drop a comment.
Happy Trading!
#EthereumFuture #BinanceAlphaAlert