#ETHUSDT | DAILY TIMEFRAME UPDATE
In my last analysis, I shared a higher time frame outlook on #Ethereum , and since then, #ETH dropped below $3,000 before bouncing back to the upside.
I know many of you are strong believers in Ethereum and are anticipating a new all-time high.
However, in this analysis, Iâm focusing on a logical, higher time frame perspective to assess its potential movements.
Based on the monthly, weekly, and daily charts, I remain bullish on Ethereum, and we could see higher prices in the coming months. đ
Key Levels to Watch:
đ Short-term targets: $3,258 - $3,358
đ Midterm targets: $3,453.69 - $3,525.72 - $3,625
đ Long-term targets: $3,774.83 - $3,851 - $4,100
đš Invalidation level: Below $2,900
Note
We're nearing the end of January, and the next monthly candle for #Ethereum is likely to be bullish.
Based on this analysis, the risk-to-reward ratio makes it a worthwhile trade. However, keep in mind that if the price drops below $2,900, this analysis becomes invalid.
That said, donât go all-in on ETH. You might make some money with this strategy, but if you put everything into a single coin, focusing only on potential rewards while ignoring the risks, you'll likely end up on the losing side of the game. Trade wisely. Wishing you success in your trades! â€ïž
It could be a Bullish AMD setup
What do you think? đ€