Here we have an analysis for Ethereum in 1H time frame. we can consider two scenarios.
Bullish Scenario:
If ETH breaks above the immediate resistance (PA) around $3,700, it could rally towards higher resistance levels at $3,900, $4,000, and potentially up to $4,400.
This is depicted by the black projected path, suggesting a continued uptrend.
Bearish Scenario:
If ETH fails to break the $3,700 resistance and moves below the immediate support of $3,520, it could see further declines.
The orange projected path indicates a potential drop towards $3,360, $3,280, and a significant support level around $3,125.
This scenario suggests a possible deeper correction before any potential recovery.
Bullish Scenario:
If ETH breaks above the immediate resistance (PA) around $3,700, it could rally towards higher resistance levels at $3,900, $4,000, and potentially up to $4,400.
This is depicted by the black projected path, suggesting a continued uptrend.
Bearish Scenario:
If ETH fails to break the $3,700 resistance and moves below the immediate support of $3,520, it could see further declines.
The orange projected path indicates a potential drop towards $3,360, $3,280, and a significant support level around $3,125.
This scenario suggests a possible deeper correction before any potential recovery.
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.
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.