Ethereum Weekly Analysis: First Short, Then LONG! (READ CAPTION)

3 thg 8

By analyzing the #Ethereum chart on the weekly (logarithmic) time frame, we observe that after the price reached the Bearish OB zone between $3750 and $4150, it faced selling pressure and corrected down to $2800. Currently, the price is trading around $3000, and we need to see if the support at the $2900 level can hold. In my opinion, Ethereum might correct down to $2500 before starting its next bullish move, driven by increased demand in that area. The important demand levels are $2176 to $2500 and $1367 to $1592. The long-term targets for the price are $4100 and $4880.

Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !

Best Regards , Arman Shaban