ETH/USDC - (Target Reached) ETH no clear directional view between 3140 and 3510

ETH

BULLISH

MARKET_MINDS

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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