ETH/USDT (Bullish) ETH in a pause before rise towards 4840
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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