ETH/USDC - ETH confirmed bullish exit from neutrality area opening 4840
ETH
MARKET_MINDS
BULLISH
![](/static/7dbed48a162891b5807625bf4021f74c/eeace/eth15_25272f20bb.png)
Market & Ticker: Ethereum – ETH/USDC
Date: 24/05/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
After a long period of range / consolidation price action, ETH confirm a bullish momentum with the recent SEC approbation for ETF.
The technical picture is now positive above 3140 to follow the rise towards 4090 and 4840 with a potential setback / buyback area at 3500 to see the development of the bullish trend.
Technical Key Elements:
- RSI indicator is positive
- The Moving average are support at 3140
- Fibonacci key resistance area at 4090 and support at 3140
Trade Idea conclusion: Neutral
- Tactical target 2: 4840
- Tactical target 1: 4090
- Tactical Support: 3140
- Target down: 2480 and 1985
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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