#ETHUSDT | DAILY TIMEFRAME UPDATE
#ETHUSDT | DAILY TIMEFRAME UPDATE
I’m currently analyzing the daily chart for #ETH, and I see that #Ethereum price has been consolidating within a range of $2,112 to $2,815, moving sideways in this area.
What’s next after this consolidation? 🤔
Typically, after a period of consolidation, we expect a phase of expansion. So, following this consolidation, there's a strong possibility for a significant upward move. 📈
I’ve already taken a spot position in ETH, expecting a breakout to the upside. However, this analysis is based on a higher time frame, so patience is key—it may take some time before we see a major move.
I’m currently analyzing the daily chart for #ETH, and I see that #Ethereum price has been consolidating within a range of $2,112 to $2,815, moving sideways in this area.
What’s next after this consolidation? 🤔
Typically, after a period of consolidation, we expect a phase of expansion. So, following this consolidation, there's a strong possibility for a significant upward move. 📈
I’ve already taken a spot position in ETH, expecting a breakout to the upside. However, this analysis is based on a higher time frame, so patience is key—it may take some time before we see a major move.
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#ETHUSDT | DAILY TIMEFRAME UPDATE
In my last analysis of #ETH, I mentioned that after every consolidation, we typically see an expansion to the upside. And as expected, #Ethereum surged over 25% without any leverage!
So, what’s next for #ETH? 🤔
Currently, #ETH is trading at $3,050, and since today is Saturday, I wouldn’t recommend buying at this level or on this day. Instead, we should wait for the next weekly candle to open. From there, we can watch for a potential retracement, which could present a better entry point for a buy position.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.