As usual,
ETHUSD
tends to catch up with
BTCUSD
initially, as its price lags behind.
However, after the leader experiences significant upward movements, Ethereum follows suit and often surpasses those gains.
Technically, the price has been confined within a long upward accumulation channel. Once this channel was breached, the price accelerated to the upside.
Currently, Ethereum is in a consolidating phase, and a new upward movement could be imminent.
Considering the measured target for the long-term channel, we could anticipate a rise to around 4100.
Switching to a shorter timeframe, we observe that after the volatile day on February 29th, dips in ETH are aggressively bought, resulting in new highs (unlike BTC).
A break above the 3.5 zone should accelerate gains, with 3750 serving as the short-term target.
ETHUSD
tends to catch up with
BTCUSD
initially, as its price lags behind. However, after the leader experiences significant upward movements, Ethereum follows suit and often surpasses those gains.
Technically, the price has been confined within a long upward accumulation channel. Once this channel was breached, the price accelerated to the upside.
Currently, Ethereum is in a consolidating phase, and a new upward movement could be imminent.
Considering the measured target for the long-term channel, we could anticipate a rise to around 4100.
Switching to a shorter timeframe, we observe that after the volatile day on February 29th, dips in ETH are aggressively bought, resulting in new highs (unlike BTC).
A break above the 3.5 zone should accelerate gains, with 3750 serving as the short-term target.
Bình luận:
After the strong volatility day 2 days ago, ETH is looking very determined to touch 4k
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