ETHUSD ETDUSD (W) is poised to approach the $30K in the near futureETDUSD (W) is poised to approach the $30K price threshold in the near future. The distinct bullish response within Fibonacci extension zone 1 (
29K-$32K) is evident. However, the sudden surge in price has activated a cautionary signal from the RSI indicator, suggesting a potential correction.RSI divergence has materialized, prompting a corrective response in the recent period. The recent uptrend lacks substantial volume, particularly observed within a candle featuring a prominent upper wick.
Therefore, for holders of this digital currency, a prudent strategy involves establishing a secure stop-loss level to preserve existing profits and setting a take-profit target within the
29K-$30K price range.For those observing from the sidelines, exercise caution, refrain from succumbing to FOMO during this period, and await signals from the impending correction.
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A normal market reaction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.