Mid-term study
Scenario :
We expect a tentative of bullish exit from the current bearish trend as long as ETH remains above 1220 and 1420 in setback.
An intermediate resistance area at 1600 is acting as CONFIRMATION level on the short-term to bypass in daily close, while 2170 is the standard target for the coming weeks/months
Key Element:
- The long-term trend analysis show potential towards 3250 as long as 880 strategic support remains valid
- The mid-term element as RSI is showing bullish pre-signal while the exit from consolidation can replicate the same recovery as April 2022
- ETH is outperforming BTC since on long run which allow us to keep this coin in portfolio
Trade Idea : Buy
- => Target 2 : 2170 (+45% from 8100)
- => Confirmation level : 1600
- => Entry area 1420 (in setback)
- => Stop 1220 (Daily close)