𝗧𝗵𝗲 𝗯𝗶𝗴 $ETH 𝘂𝗽𝗱𝗮𝘁𝗲 𝘁𝗵𝗮𝘁 𝘆𝗼𝘂 𝗼𝗻𝗹𝘆 𝗻𝗲𝗲𝗱
🟢𝙏𝙚𝙘𝙝𝙣𝙞𝙘𝙖𝙡 𝙖𝙣𝙖𝙡𝙮𝙨𝙞𝙨
Ethereum (ETH) has already broken the trend line resistance, but it might retest this level before the next leg up. In the shorter time frame, ETH is moving within an upward parallel channel, and the volume remains consistently steady. If this movement continues, the next target could be between $3700 and $4000. However, we have resistance at $3530; if ETH gets rejected at this level, we could see it drop to the $3100-$3300 range.
🔴𝙁𝙪𝙣𝙙𝙖𝙢𝙚𝙣𝙩𝙖𝙡 𝙖𝙣𝙖𝙡𝙮𝙨𝙞𝙨
1. The upcoming ETH ETF launch on July 23rd.
2. Deribit Exchange is rolling out early BTC and ETH options for the 2024 US election.
3. Google Trends shows Ethereum interest rising rapidly as the ETF launch approaches.
The upcoming weeks are expected to be very volatile for ETH. My suggestion is to trade safely in Layer 2 tokens
