Market & Ticker: Ethereum – ETH/USDT
Date: 10/01/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
The configuration of ETH is showing a risk of pause before the long-term bullish move expected in 2024. We will monitor the movements in the next day's keeping in mind that the probability of seeing a pause to 1810 remains high before engaging the next upside trend expected on the longer run.
We turn neutral between 2080 and 2650 to wait for a clearer signal.
We do see a push to 2650 holding above 2260 on the short-term (last push up)
Technical Key Elements:
- Trading range on going 2080/2650
- RSI indicator is at support at 50%
- The Moving average are support (Golden cross)
- Fibonacci key support is adjusted at 2080 while the key resistance is adjusted at 2650
Trade Idea conclusion: Neutral
- Target 1: 3250
- Neutral resistance: 2650 = 50100 BTC
- Neutral support: 2080
- Target 1: 1810
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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