ETHEREUM → 4K Target. Waiting for SEC with ETH-ETF ↑
Updated
ETHUSDT is ending the sell-off phase. Buyers have held a strong support area, forming an intermediate bottom. The liquidity capture led to a rebound, which can move into the phase of the uptrend continuation.Fundamentally, the main focus is on ETH-ETFs. Earlier traders were positive about the initial rumors of approval, now the important milestone is the admission of ETFs to trading, judging by the feedback and SEC sentiment, this could happen very soon (within 1-2 weeks)
Technically, strong buyers appear in the 2800-2900 zone (judging by candlestick patterns and volume growth), restraining the market from falling and gaining momentum with the purpose of further strengthening (local price movement has a consolidation character).
The trigger area for buyers is 3200. Accordingly, further final consolidation of the price above MA-200 and breakout of 3200 may become the reason for strengthening, the target of which may be 4000-4800.
Resistance levels: 3200, 3357
Support levels: MA-200, 2868
Fundamentally, the situation is positive, traders are waiting for the news from SEC. Technically, on local timeframes there are prerequisites for a bullish mood, on D1 a rebound from strong support is forming. Accordingly, the overall tandem is signaling a possible further rise to 4K.
Rate, share your opinion and questions, let's discuss what's going on with ♦︎ ETHEREUM ♦︎ ;)
Regards R. Linda!
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Going through 3200 and testing 3400.
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Price is approaching strong resistance
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A consolidation above 3.357 would be a good bullish signalNote
ETH is consolidating above 3360. A strong interim bottom is forming before the ETF launch
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