Ethereum: 3000$ as Perfect Bottom and 7000$ as Reachable Target
The price moved down from the ATH and was stopped at 4000$ support and MA50. We got a reversal signal and an attempt to continue the main bullish trend. But bulls failed with this mission.
The price bounced from MA20 and 4375$ resistance, and now we have a very interesting situation.
If the price breaks 4000$ support, it will be a strong bearish signal with the 1st target at the main uptrend line. A breakout below this line will open the road to MA200 and 3000$ support. This area will be perfect for opening new long positions. Bullish setups from the main uptrend line will be used for buying as well.
If the bulls can keep the price above 4000$, it will become a starting point for a new upward movement. The 1st target will be the ATH. But I think 5000$-7000$ round numbers will be reachable.
P.s. Not Financial Advice!
The price bounced from MA20 and 4375$ resistance, and now we have a very interesting situation.
If the price breaks 4000$ support, it will be a strong bearish signal with the 1st target at the main uptrend line. A breakout below this line will open the road to MA200 and 3000$ support. This area will be perfect for opening new long positions. Bullish setups from the main uptrend line will be used for buying as well.
If the bulls can keep the price above 4000$, it will become a starting point for a new upward movement. The 1st target will be the ATH. But I think 5000$-7000$ round numbers will be reachable.
P.s. Not Financial Advice!
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