#Ethereum $ETHUSD One year analysis.
ETHUSD Key Levels:1. 4500 = Nearest major supply & 12 month target.
2. 4105 = Last year's high.
3. 2700 = Closest majot demand.
Analysis:
ETHUSD is currently trading slightly below the 2024 high of approximately $4105. This level has broken above March's high around $4090, therefore it is no longer valid and must be cleared for ETH to reach a new all time high above the upper channel wedge.The current uptrend appears to be losing momentum. For a resumption of the bullish trend, a period of price consolidation near the lower wedge of the current channel, around the $2700 demand zone, may be required to gather momentum.
Conclusion, A retest of the $2700 level may provide a very favorable buying opportunity.
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