Ethereum Might Be Preparing for a Rise! Current ETH Analysis

  1. The daily chart for Ethereum shows a strong buying momentum from the $2867 – $2950 range, pushing its price up to $3100.
  2. For long-term investors, daily candle closures below $2860 can be considered a stop-loss level.
  3. If ETH manages to close weekly candles above $2860, it is believed that the targets could sequentially be $3411 and $3722.

Ethereum’s daily chart has sustained a rise up to $3100 after strong buying in the $2867 – $2950 range. Current ETH Analysis

MID-TERM ETH ANALYSIS

Daily ETH/USDT Price Chart

Upon examining Ethereum’s daily chart, we see that it has risen to $3100 due to strong buying from the $2867 – $2950 weekly support zone.

For long-term ETH investors, it can be advisable to consider daily candle closures below $2860 as a stop for spot investments.

As long as ETH closes weekly candles above $2860, the next targets are $3411 and $3722, respectively. Thus, potential investors might hold their long-term spot investments in Ethereum as long as we observe weekly candle closures above $2860.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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