Ethereum (ETH/USDT) Weekly Chart Update
ETH is currently trading around $4026, down approximately 9.5% this week.
A long-term triangle breakout has occurred, and the price is now retesting this breakout zone.
Support levels: $3800 and $3500 (with the moving average).
Resistance levels: $ 4,500–$ 4,800 (short-term); if the momentum continues, the next major target would be $ 5,500–$ 6,000.
The overall trend remains bullish as long as ETH stays above $3500–$3600.
⚡ Summary:
ETH is currently experiencing a mid-term correction, but the long-term outlook remains bullish. Staying above support could pave the way for a move towards $5000+ in the coming months.
#crypto #ETH #BTC
ETH is currently trading around $4026, down approximately 9.5% this week.
A long-term triangle breakout has occurred, and the price is now retesting this breakout zone.
Support levels: $3800 and $3500 (with the moving average).
Resistance levels: $ 4,500–$ 4,800 (short-term); if the momentum continues, the next major target would be $ 5,500–$ 6,000.
The overall trend remains bullish as long as ETH stays above $3500–$3600.
⚡ Summary:
ETH is currently experiencing a mid-term correction, but the long-term outlook remains bullish. Staying above support could pave the way for a move towards $5000+ in the coming months.
#crypto #ETH #BTC
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