What's up traders, I hope you're all having a good trading week.
Let's analyze ETH/USD on the 4H chart.
When looking at the 4 hour chart now as it stands, it's clear there are significant levels which can act as pivot points. If Ethereum can break the strong resistance at 712, this would be a very bullish sign for Ethereum, and I would strongly expect upside to continue for the longer term, with an upside target of up to 897.
Ethereum could go to the upside at 897, or, if price fails and stalls at the resistance, price could take a retest on the horizontal support at 559. Judging by how bullish Ethereum has recently been, a retest at 559 doesn't seen entirely likely. There might instead just be a small wave correction then the upside will eventually prevail.
I will update this analysis when I receive above 40 likes.
Let's analyze ETH/USD on the 4H chart.
When looking at the 4 hour chart now as it stands, it's clear there are significant levels which can act as pivot points. If Ethereum can break the strong resistance at 712, this would be a very bullish sign for Ethereum, and I would strongly expect upside to continue for the longer term, with an upside target of up to 897.
Ethereum could go to the upside at 897, or, if price fails and stalls at the resistance, price could take a retest on the horizontal support at 559. Judging by how bullish Ethereum has recently been, a retest at 559 doesn't seen entirely likely. There might instead just be a small wave correction then the upside will eventually prevail.
I will update this analysis when I receive above 40 likes.
