📊 ETH Analysis - Nov 15

After reaching annual highs, the market has undergone the expected correction. Meanwhile, on the higher time frames it maintained a bullish structure.

Take note of the ETH chart - the price swiftly bounced back to $2000 mark, and buyers are currently attempting to close a 4H candle above this level. If successful, we might witness a renewed push towards $2125.

Both the macroeconomic landscape (discussed in the previous post) and technical indicators hint at the continuation of the uptrend - RSI has exited the overbought zone, and the MA has provided strong support on 1D.

💡 I anticipate a brief accumulation phase with the prospect of further highs in the medium term.

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