Market & Ticker: Ethereum – ETH/USDT
Date: 11/12/2023
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 is now more likely than a direct bullish move.
We turn neutral between 2080 and 2380 in order to wait a clearer signal.
Technical Key Elements:
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Exit from Consolidation pattern (orange channel) confirmed with 2380 as potential (Reached)
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RSI indicator shows divergence active
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The Moving average are now support (Golden cross)
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Fibonacci key support is adjusted at 2080 while the key resistance is adjusted at 2380 and 2650
Trade Idea conclusion: Neutral
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Target 1: 2650
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Neutral resistance: 2380
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Neutral support: 2080
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Target 1: 1810
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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