Hey, guys.
📌 this is a weekly update on ethereum.
💬 Last time we traded around 3.7K and I said that the strategy to buy back the bottom looks promising as the up cycle is not over. This scenario is being realized the price tested 4K again.
✅Onchain metrics still show a bullish bias (Netflow, reserves),
✅Open interest in derivatives recovered and updated the High,
✅Netflow in ETFs posted a record high last week at 854 million.
💡 Important zone saturated with liquidations 4.1K and down 3.7K.
💡Close support at 3.3K which should not be broken.
💡 Immediate targets 4.2-4.5K and more medium term 5-5.5K.
👀If it was useful for you don't forget to subscribe so you don't miss anything and give us a reaction.👍
Stay tuned.
