ETH/USDT - (Bullish) ETH almost at 4330 – ETH keeps upside potential towards 4840 before 7750
ETH
BULLISH
MARKET_MINDS
Market & Ticker: Ethereum – ETH/USDT
Date: 11/03/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
Since our last analysis ETH benefits from an outperformance versus BTC a head of the ETH:ETF approbation by the SEC in US reaching and surpassing 3320 tactical targets.
As long as 3400 remains a tactical support valid, ETH is expected to progress towards 4330 and4 840 before 7750
NB : Strategic support is adjusted at 1800
Technical Key Elements:
- Bullish channel in progress
- RSI indicators is in positive area
- The Moving average are support and accelerate to the upside
- Fibonacci key resistance area at 2270 and 2890
Trade Idea conclusion: Bullish
- Target 2: 4840
- Target 1: 4330
- Tactical Support: 3400
- Alternative Target: 2730 and 2140
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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