Market & Ticker: Ethereum – ETH/USDT
Date: 04/01/2024
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 remains high before engaging the next upside trend expected on the longer run.
We turn neutral between 2080 and 2350 to wait for a clearer signal.
Technical Key Elements:
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Trading range on going 2080/2350
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RSI indicator is at support at 50%
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The Moving average are support (Golden cross)
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Fibonacci key support is adjusted at 2080 while the key resistance is adjusted at 2350 and 2650
Trade Idea conclusion: Neutral
Target 1: 2650
Neutral resistance: 2350
Neutral support: 2080
Target 1: 1810
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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