On a monthly chart ETH did a bad close by closing the previous pump's close. But on a weekly chart it has made a very good close by doing a bullish engulfing candle at facing a strong resistance at 1800 - 1840 Range. If Ethereum can break the support above and flip this resistance into support this might be the bottom for ethereum and considering that the current macro range is being done for 4 years, we might see All Time highs for ethereum in 2027. But based on the price action the current support of 1550 - 1600 acts as a strong support. If at all there is a dip to this range, strongly recommend to buy in this level. Another thing to note is that ETH has not done a close above 7EMA in Weekly chart. Once done it would confirm the local bottom is IN and push prices higher.
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First Rejection from the weekly resistance and the slanting trendline. need to trade cautious here.
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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.