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

Market & Ticker: Ethereum – ETH/USDC

Date: 10/05/2024

Horizon / Timing:  Tactical Mid-term / 1 to 3 months

Scenario:

After having penetrated 3140$ recently the ETH failed to accelerate significantly to the downside. The technical situation remains unclear (Neutral).

For the time being a break above 3450$ key resistance would open a potential towards 4090$ and max 4840$ in extansion

However a failure below 3450$ with a break of 2770$ as key support the ETH will continue to progress in consolidation towards 2340 and 1965 max

Technical Key Elements:

• RSI indicators is bearish
• The Moving average are challenged
• Fibonacci key resistance area at 3450 and support at 2770

Trade Idea conclusion: Neutral

• Target up: 4090
• Tactical Resistance: 3450
• Tactical Support: 2770
• Target down: 2340 and 2965

Chart: Daily Basis (Candle Stick) - Logarithmic 

Indicators: Exponential Moving Average (21/34/89) - RSI (21)

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