ETH/USDT (Bullish) ETH is progressing towards 3200


Market & Ticker: Ethereum – ETH/USDT

Date: 13/02/2024

Horizon / Timing: Tactical Mid-term / 1 to 3 months


Since January 2024 the ETH was in ‘’pause’’ configuration prior to halving in April. Last week the technical elements in place to maintain an extension of the pause have been invalidated with a test of 2680 key resistance – We update the mid-term view from bearish (consolidation in range) to bullish.

As long as 2270 remains a tactical support valid, ETH is expected to progress towards 2890 level before 3200

NB : Strategic support has been updated to 1430

Technical Key Elements:

  • RSI indicators break bearish trend line and remains in positive area above 50%
  • The Moving average are support and accelerate to the upside
  • Fibonacci key resistance area at 2270 and 2890

Trade Idea conclusion: Bullish

• Target 2: 3200 • Target 1: 2890 • Tactical Support: 2270 • Alternative Target: 1960 and 1760

Chart: Daily Basis (Candle Stick) - Logarithmic

Indicators: Exponential Moving Average (21/34/89) - RSI (21)


Disclaimer: The content of this analysis should not be considered as a study, an investment advice or a recommendation concerning products, strategies or a particular investment opportunity. This content is strictly for illustrative, educational or informational purposes and is subject to change. Investors should not base their investment decision on the content of this site and are strongly recommended to seek independent financial advice for any investment they are considering. logo


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