This article is also available in Spanish.
Ethereum has been traded within a 4 -hour narrow range between $ 3150 and $ 3500, which has left investors frustrated from her pale performance in recent weeks. With other assets in the encrypted currency market achieved great steps, the side movement of Ethereum caused a question of many whether it can regain its momentum this year. The lengthy monotheism weakened the morale, as some investors began to lose their patience and belief in the ability of ETH to achieve great returns.
Related reading
However, there is still optimism among technical analysts who see Ethereum approaching a critical turning point. A senior cryptocurrency, Daan, recently participated in a technical analysis of X, highlighted the huge downward bond model forming on the ETHEREUM graph. This setting is widely considered an upper reflection indicator, with the possibility of raising a large upward movement if the price is penetrated up.
According to Dan, the penetration of this descending duration is likely to pave the way for Ethereum to test the level of $ 4,000-4100, providing a glimmer of hope for the upscale investors. Such a step can stimulate market confidence and pave the way for Ethereum to restore its position as a leading alternative currency. Currently, all attention is turned to ETH where traders are waiting for the following large movement to confirm this domain, which has very follow -up.
Ethereum faces grave risks
Ethereum has been in a declining direction since late December, and has been fighting to restore momentum while continuing the landfill in control of the market. Fadful price movement has left investors and analysts, increasingly concerned about the possibility of deeper correction, as ETH is firmly firmly firm. While some are still optimistic about a shift, current expectations indicate that Ethereum faces great challenges in the future.
A senior cryptocurrency, Daan, recently shared his ideas about X, and highlighted the huge descending string style on the ETHEREUM chart. This pattern is often seen as a bullish reflection signal, with the possibility of a large penetration if confirmed. According to Dan, a successful penetration can push ETH towards a scale of $ 4,000 – $ 4100, reviewing the highest levels of the cycle. However, he has also expressed caution, noting that if ETH is able to reach this level, she may face strong resistance, which may lead to another sharp rejection.
Dan stressed the importance of monitoring the descending string trend, noting that he will play a decisive role in determining the next step for Ethereum. Currently, the market is still in waiting and anticipation, as ETH moves into a risky balance between the possibility of bullish penetration and the risk of further decline.
Related reading
While Ethereum is hovering around the main levels, traders and investors closely monitor the signs of the final move. The penetration over the descending duration can spread a new life in ETH and re -ignite optimism, while failure to retain support may lead to a long period of cohesion or even a deeper correction. The coming days will be decisive in forming the Ethereum path, and its performance is likely to affect market morale on a larger scale.
ETH holds above the main order
Ethereum (ETH) is traded at $ 3,322 after withstanding several days of price fluctuations, which reflects the wider uncertainty in the encrypted currency market. I struggle the price to acquire the momentum as it is still stuck in a narrow range, testing the patience of investors and traders alike. To ignite a bullish trend, speculators must maintain a rise in the critical support level of $ 3,300, which was a major demand zone in the last sessions.
The decisive height above the resistance level is $ 3500, which limited the ups of the ETH for weeks, is necessary to confirm the bullish penetration. It is likely that the survey of this level will revitalize the market morale and attract a new purchase attention, which paves the way for Ethereum to target higher levels in the coming days.
Related reading
However, negative risks are great. If ETH fails to maintain the level of $ 3,300, this may lead to a wave of pressure pressure, which leads to a deeper correction. Such a step can also surrender between investors who have been disappointed due to the poor ETHEREUM performance compared to Bitcoin and other alternative currencies.
Distinctive image from Dall-E, the tradingView graph