ETH/USDC - ETH confirmed bullish exit from neutrality area opening 4840
ETH
MARKET_MINDS
BULLISH
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)
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.