ETHEREUM : Approach to important support area in medium term
Updated
Hi everyone!
If we look at the weekly chart, from a technical point of view, Ethereum has already reached the first important Bullish Target around 3,450 area (long term), and from here a corrective structure has started.
The analysis we are showing is on a logarithmic scale so the price projections look really important, having said that, the price action has reached an important support area around 995 and if it can hold it in the short term, a technical bounce is very likely. On the other hand, a bearish breakout will prompt us to look for short positions on technical rebounds.
Thanks for your support, your "Like" and Trade with care!
If we look at the weekly chart, from a technical point of view, Ethereum has already reached the first important Bullish Target around 3,450 area (long term), and from here a corrective structure has started.
The analysis we are showing is on a logarithmic scale so the price projections look really important, having said that, the price action has reached an important support area around 995 and if it can hold it in the short term, a technical bounce is very likely. On the other hand, a bearish breakout will prompt us to look for short positions on technical rebounds.
Thanks for your support, your "Like" and Trade with care!
Note
...consolidation?
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