Hello friends, welcome to this ETH/USDT update from Crypto Sanders.
Chart Analysis:- Ethereum has displayed significant bullish signals, with the price exhibiting a robust uptrend that retraced above the pivotal resistance level of 2.1K. Despite a temporary setback, the cryptocurrency maintained its upward trajectory, reaching an annual peak of 2.4K. This PA suggests a revived bullish market, reflecting renewed demand and heightened buying interest among market participants.
It’s crucial to acknowledge that short-term corrections typically follow each bullish surge. As evident from the chart, Ethereum’s upward momentum faced rejection upon hitting the upper boundary of the wedge, resulting in a 10% decline.
The divergence between the price and the RSI indicator also supports the likelihood of a brief retracement before initiating the next bullish move. In such a scenario, the 2K support zone is anticipated to be Ethereum’s next destination in the daily timeframe.
I have tried to bring the best possible results in this chart.
If you like it, hit the like button and share your charts in the comments section.
Thank you.
Chart Analysis:- Ethereum has displayed significant bullish signals, with the price exhibiting a robust uptrend that retraced above the pivotal resistance level of 2.1K. Despite a temporary setback, the cryptocurrency maintained its upward trajectory, reaching an annual peak of 2.4K. This PA suggests a revived bullish market, reflecting renewed demand and heightened buying interest among market participants.
It’s crucial to acknowledge that short-term corrections typically follow each bullish surge. As evident from the chart, Ethereum’s upward momentum faced rejection upon hitting the upper boundary of the wedge, resulting in a 10% decline.
The divergence between the price and the RSI indicator also supports the likelihood of a brief retracement before initiating the next bullish move. In such a scenario, the 2K support zone is anticipated to be Ethereum’s next destination in the daily timeframe.
I have tried to bring the best possible results in this chart.
If you like it, hit the like button and share your charts in the comments section.
Thank you.
