Ethereum is re-testing the resistance zone on the 4H timeframe.
During the weekends we had the re-test of our bounce zone, where we were also lying our entry for short position but yet it failed to break and went back to upper zones!
We are not keeping attention on that resistance zone for any signs of breakout or if we see a weakness to kick in, then the 200EMA line is our point of interest!
Swallow Team
📈LONG: $ETH (1W)
#ETHUSDT | #ETH | #Ethereum
Current Price $3993
Market Cap $476.09B
Change 1h -0.09% | 24h +2.53%
Weekly Indicators:
• RSI: 65 - Neutral 🟠
• MACD: 241 - Bullish 🟢
• EMA: 3092 - Trading Above 🟢
Analysis: Ethereum's making waves with a strong +60% move! It's bumping up against resistance, but that handy hammer candle hints at a breakout soon. Eyes on those smaller timeframes for potential action towards new highs.
Price Targets: If ETH breaks resistance, we could see it soar to $4,500 and beyond. But keep an eye on possible pullbacks to $3,800 for prime buying opportunities!
