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Ethereum / TetherUS
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ETHEREUM → Retest 4000. Are we preparing for further growth?

By RLinda
Updated
ETHUSD is testing a strong liquidity area after a false breakdown of the support zone formed on the background of Powell's speech. The 3980-4000 area plays an important role before further rise or correction.

snapshot

A candle with a long enough shadow is forming on W1, indicating active buying interest in the market, which actively restrains the price from falling. The global ATH has not yet been reached, indicating that the upside to an important target is still ahead. The market has the potential for another 30-40%.
At the moment, the cryptocurrency community's eyes are focused on the halving of BTC, which is expected in April and the approval of spot ETH-ETFs, but the SEC continues to reject incoming applications. These are quite important levers that can favorably affect both individual coins and the entire cryptocurrency market.

Resistance levels: 3983.65.
Support levels: ascending lines, 3200, 3064

Technically, from 3983 may be followed by a correction to support to accumulate potential before further growth. A price retest of resistance would indicate the readiness of the coin to break the zone and further rise to the resistance of the range

BTCUSD BTC1! ETH1! TOTAL TOTAL2

Regards R. Linda!
Trade active
False break of resistance activates the correction phase
Note
snapshot

The scenario works 100%

Correction from 3983 resistance followed by a retest of ascending support.

A test of support leads to a further bounce, and a quick retest of 3983 resistance causes the resistance area to break down.


A consolidation above the level is formed.
Most likely the market will try to strengthen the growth with the aim to reach the upper boundary of the range (4000)
Note
Level retest after breakout
Trade active
Rebound from support and the price is testing the key resistance again.
Consolidation of the price above 3580 will form a favorable potential for further growth
Bitcoin (Cryptocurrency)BTCBTCUSDBTCUSDTChart PatternscryptoCryptocurrencyETHEthereum (Cryptocurrency)ETHUSDFundamental AnalysisTrend Analysis
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