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Ethereum / TetherUS
Long

ETHEREUM → Correction before rising to 4850

By RLinda
Updated
ETHUSD in the bullrun phase reaches the 4000 mark. There is not much left to ATH. On the hourly chart, there are preconditions that a large volume is being purchased in the coin in order to strengthen the price. When will we reach ATH?

snapshot

After reaching $4000, a correction is formed and the price tests local support areas. Two scenarios are possible at this point:
  1. False breakdown of 3981.75 followed by price consolidation above the level and growth to 4150-4450.
  2. A deeper correction, but the probability is much lower, as buying liquidity may not let the price go that far. Still. A break of 3981 and price consolidation below this area will give us a correction to more favorable buying zones. A retest of 3825, 3725 could resume the rise to 4000-4450


Resistance levels: 4085, 4150
Support levels: 3981, 3825, 3725

I expect the growth to continue, but after correction. The correction may be fast or deep, but the target is still 4450 - 4850 (ATH)

BTCUSD TOTAL TOTAL2

Regards R. Linda!
Trade active
Consolidation above a key level.
Consolidation above 4066 may trigger further growth
A false break of support is also possible
Trade active
snapshot

Similarly, as before. Corrections and liquidations give whales points where to buy at more favorable prices.
The potential for further upside is being gained.
A breakout and consolidation above 4000 will give the potential for further gains
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False breakdown of support :)
Ascending ChannelBitcoin (Cryptocurrency)BTCBTCUSDChart PatternsCryptocurrencyETHEthereum (Cryptocurrency)ETHUSDFibonacci RetracementFundamental AnalysisTrend Analysis
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