Search This Blog

Sunday, April 23, 2023

Ethereum Weekly outlook

Ethereum Weekly outlook

Ethereum / U.S. dollar BITSTAMP:ETHUSD

Dear traders and investors,

Please find the Ethereum 1W, analysis that I performed.

From a technical point of view Ethereum is arriving at a resistance zone. That has historically helped ETH to breakthrough and create new highs. What we see is that sellers are giving the bulls a difficult time and challenge bullish price action. What we see however is that price has been in a strong range since ( more or less June 2022 ) telling the market that even though fundamentals didn't back cryptomarket asset due to inflation, interest rates and forward traders still saw value at the demand zone. Now that gradually the banking system is being exposed cryptoassets are given a chance to proof their worth, which is not only bullish for the asset but also an opportunity to perfectionate its base case as an alternative to the actual systems. Coming and remaining above the 2225 zone would help us push to the 2550

This is a weekly chart to give the higher overview, dissecting the charts into lower times-frames in order to make scalping profits is our next target to be shared with you.

If you enjoyed the summary, please don't hesitate to follow our page and like & comment.



from TradingView Ideas

No comments: