Don’t Let FOMO ⚠️ Cost You: Upcoming Correction and Promising Rise for Ethereum and Layer 2 Tokens 📈‼️🔥
Ethereum Analysis
Image 1:
• Current Ethereum price: $3,524.18.
• There is a descending trend line, with $3,743.41 as a major resistance level.
• Important support levels:
• $3,353.27
• $2,888.98
Technical Indicators:
• The Stochastic RSI shows the price in the overbought zone, indicating a potential downward correction.
• Boom Points indicates several sell signals in previous periods, reinforcing the likelihood of a downward correction.
Image 2:
• There is a visible price gap, marked by a circle, suggesting a drop to fill this gap.
• Strong support level at $2,427.5.
Expected Trend:
• The expected trend is a downward correction to fill the price gap and reach the mentioned support levels ($2,888.98 as the first target and $2,427.5 as the second target).
Recommendation:
• Don’t let FOMO cost you; wait for the correction, as this short-term correction will be followed by a promising rise in Ethereum’s price.
• This scenario is positive for Layer 2 tokens, as we will see significant movements for tokens like Manta, Arbitrum (ARB), Optimism (OP), Metis, and other Layer 2 tokens.
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