Market & Ticker: Ethereum – ETH/USDT

Date: 18/03/2024

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

Scenario:

Since our last analysis ETH almost reached 4330 before engaging a pause / consolidation within its long-term bullish trend towards 4840

As long as 3060 remains a tactical support valid, ETH is expected to progress towards 4090 and 4 840 before 7750

NB : Strategic support is adjusted at 1800

Technical Key Elements:

• Bullish channel in progress
• RSI indicators is showing bearish signal (NEW)
• The Moving average are support and accelerate to the upside
• Fibonacci key resistance area at 4840

Trade Idea conclusion:  Bullish

• Target 2: 4840
• Target 1: 4090
• Tactical Support: 3060
• Alternative Target: 2730 and 2140

Chart: Daily Basis (Candle Stick) - Logarithmic 

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

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