ETDUSD (W) is poised to approach the $30K in the near future

ETHUSD ETDUSD (W) is poised to approach the $30K in the near future

ETDUSD (W) is poised to approach the $30K price threshold in the near future. The distinct bullish response within Fibonacci extension zone 1 ( 29K -$32K) is evident. However, the sudden surge in price has activated a cautionary signal from the RSI indicator, suggesting a potential correction.

RSI divergence has materialized, prompting a corrective response in the recent period. The recent uptrend lacks substantial volume, particularly observed within a candle featuring a prominent upper wick.

Therefore, for holders of this digital currency, a prudent strategy involves establishing a secure stop-loss level to preserve existing profits and setting a take-profit target within the 29K -$30K price range.
For those observing from the sidelines, exercise caution, refrain from succumbing to FOMO during this period, and await signals from the impending correction.

Trade closed manually:

A normal market reaction.