Ethereum Update — Trading In No Man's Land!
Ethereum is currently trading above the weekly order block, which bounced nicely yesterday. However, this isn't a level where we can expect Ethereum to stay long.
Here are the scenarios based on the external factors:
1 - No escalation in the Middle East and positive fiscal signs: Ethereum should move quickly above 2.8k again and target 3.3k.
2 - Political uncertainty continues (shown in the chart): Period of accumulation at the level between 2.1 - 2.3 before moving higher (similar to Dec23 / Jan 24)
3 - Middle East Escalation: Dip to 1.9k and hopefully fast reversal.
Let me know your thoughts!
