Here is today price on Ethereum currently at the time of writing this post eth is standing at 1720.60 price level this zone is very significant zone and a major demand zone.
So I will be doing a break down of the analysis technically using the chart, the fundamental aspect of it is uncertain so I won't be going deep on the fundamental approach but I think the minor trend for eth has been kinda of bullish.
But I will be doing a proper analysis from the weekly timeframe to daily using technical tools on tradingview. I will be pairing eth with usdt for this analysis.
ETHUSDT WEEKLY/DAILY TIMEFRAME (BINANCE)
On the weekly timeframe you can see the price playing in a acceding phase from 900.01 to 2140.62 price level now we are at the middle of the range, possibly we might break out from this zone to the upper side taking away 2400.00 liquidity pool.
DOWN TO DAILY
On the daily timeframe there's a trendline which map out the support zones and the price currently tag into one of them which we had a little rejection from there. Which is 1633.04 if this zone failed to hold we might be seeing this zone that's around 1400.00 which might act as our demand zone. Let's see how to today price will close and see the reactions from that level.
DISCLAIMER
THIS IS NOT A FINANCIAL ADVICE KINDLY MAKE YOUR ANALYSIS AND RESEARCH BEFORE INVESTING YOUR MONEY, THIS IS JUST AN IDEA NOT A SIGNAL.
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