UPDATE #Ethereum
Ethereum is currently trading at $1800, showing significant strength at this level. After reaching $1800, there has been no substantial selling volume, and the RSI(14) remains below 70, which is a positive sign. If it breaks the $1800 level, the next targets could be $1900 and $2000. Other indicators also support a positive trend. In the past two days, the Fear and Greed Index fell but then recovered.
It's not surprising to observe that both Bitcoin and Ethereum are moving in the same direction. Bitcoin began its upward trend on October 10, 2023, and Ethereum followed suit. Bitcoin was previously following a descending triangle pattern in the 4-hour timeframe, but it has now broken out of it and moved higher, indicating a positive development for Bitcoin. If Bitcoin continues its upward trajectory, Ethereum is likely to follow.
Consider opening a long trade at this point, with a stop-loss set at $1725. The target range for this trade would be approximately $1900 to $2000.
