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R.Linda Trading - forecast

ETHEREUM → Correction before rising to 4850

2024-03-12 08:29 CRYPTO forecast

💡 Ideas For ETHUSD 🔷

📈 ETHEREUM → Correction before rising to 4850

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ETH in the bullrun phase reaches the 4000 mark. There is not much left to ATH. On the hourly chart, there are preconditions that a large volume is being purchased in the coin in order to strengthen the price. When will we reach ATH?

snapshot

After reaching $4000, a correction is formed and the price tests local support areas. Two scenarios are possible at this point:

1) False breakdown of 3981.75 followed by price consolidation above the level and growth to 4150-4450.

2) A deeper correction, but the probability is much lower, as buying liquidity may not let the price go that far. Still. A break of 3981 and price consolidation below this area will give us a correction to more favorable buying zones. A retest of 3825, 3725 could resume the rise to 4000-4450

Resistance levels: 4085, 4150

Support levels: 3981, 3825, 3725

I expect the growth to continue, but after correction. The correction may be fast or deep, but the target is still 4450 - 4850 (ATH)

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