Market & Ticker: Ethereum – ETH/USDC 

Date: 11/11/2024 
 

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

 

Scenario:  
 
The Ethereum – ETH/USDC exited a wide descending trading range pattern Since March 2024 opening the next long-term potential towards 4840. The recent US result election combining with strong macroeconomic statistic in the US will increase the US rate cut pace with a FED rate decision expected 4% in 2025.  
 
We are now entering in a new cycle where the highest risk asset class will benefit from money flow from low risk asset class pushing the trend of the US stocks market and Ethereum higher. 

Last week, ETH held above 2700 exiting a range configuration and reaching 3100 target 2. A further recovery is expected towards 3500 and 3740 as long as 2880 remains a key support. 
 
NB: ETH show sign of recovery against BTC, in case of this trend is confirmed it will increase the outperformance of ETH compared to BTC 

Technical Key Elements: 

• RSI indicator confirmed bullish signal > 50% 
• The Moving average are now support 
• Fibonacci key resistance area at 3740 and support at 2880 
• Elliot wave pattern is bullish with wave iii in progress 

Trade Idea conclusion: (buy) 

• Tactical Bullish target max: 3740 
• Tactical target: 3500 
• Tactical Pivot support: 2880 
• Tactical alternative bearish target: 2320 

Chart: Daily Basis (Candle Stick) - Logarithmic  

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

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