ETH/USDC - (Target Reached) ETH no clear directional view between 3140 and 3510
Market & Ticker: Ethereum – ETH/USDC
Date: 05/04/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
Since our last analysis ETH failed to accelerate to the upside before testing the support at 3250
At current price, we turn Neutral between 3140 and 3510, waiting for a break of those level in daily close before confirming a clear directional move
NB : Strategic support is adjusted at 2175
Technical Key Elements:
- RSI indicators is bearish
- The Moving average are challenged
- Fibonacci key resistance area at 3510 and support at 2770
Trade Idea conclusion: Neutral
- Target up: 4090
- Tactical Resistance: 3510
- Tactical Support: 3140
- Target down: 2770 and 2520
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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