ETHUSD → Correction, after which growth to 2000 may be formed

1 thg 8, 2023

ETHUSD continues to form a bullish price channel, as evidenced by the MA-200, which accompanies the trend support. The price is forming a correction and breaking the support of 1846, thus marking the next target before further growth



Ethereum is forming a global flat 2021 - 1700. Support 1728 plays an important role for us and there is a high probability that the price may test it in the near future. But we are primarily interested in the support of the ascending channel.
The cryptocurrency market after active strengthening has moved to the correction format following bitcoin. There are no particularly key fundamental factors on this basis, as many nuances speak about the increasing interest in this market.
The price is in a range and in our case we can apply a range trading strategy, which means that in an uptrend we need to look for strong support areas to open buy trades.

Support levels: trend boundary, MA-200, 1775, 1728.
Resistance levels: 1846, 2021
I expect the correction to continue to the support area of the uptrend, after the retest of which may be followed by a bullish impulse.

Regards R. Linda!