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ETHEREUM → Retest 4000. Are we preparing for further growth?

2024-03-21 09:32 CRYPTO forecast

💡 Ideas For ETHUSD 🔷

📈 ETHEREUM → Retest 4000. Are we preparing for further growth?

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ETH is testing a strong liquidity area after a false breakdown of the support zone formed on the background of Powell's speech. The 3980-4000 area plays an important role before further rise or correction

snapshot

A candle with a long enough shadow is forming on W1, indicating active buying interest in the market, which actively restrains the price from falling. The global ATH has not yet been reached, indicating that the upside to an important target is still ahead. The market has the potential for another 30-40%.

At the moment, the cryptocurrency community's eyes are focused on the halving of BTC, which is expected in April and the approval of spot ETH-ETFs, but the SEC continues to reject incoming applications. These are quite important levers that can favorably affect both individual coins and the entire cryptocurrency market.

Resistance levels: 3983.65.

Support levels: ascending lines, 3200, 3064

Technically, from 3983 may be followed by a correction to support to accumulate potential before further growth. A price retest of resistance would indicate the readiness of the coin to break the zone and further rise to the resistance of the range

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