TA: Ethereum Price Analysis
Ethereum in a Daily Correction: Ethereum (ETH) is currently undergoing a correction in the daily timeframe, approaching the Fibonacci levels of 0.382 and 0.5.
📈 PRZ (Potential Reversal Zone): This zone is significant, as it includes various Fibonacci retracements of different waves and also serves as a strong support area.
🛒 Ethereum Buying Scenarios:
Entry in PRZ: Enter the PRZ box and look for a candlestick pattern or formation that indicates a bullish reversal. After receiving confirmation, you can consider buying with a stop loss below $1914.
Wait for Upward Movement: Wait for Ethereum to show support in this area and move upwards. Consider entering after a breakout above $2454.
💡 Personal Ethereum Strategy: Currently, I'm holding my Ethereum, utilizing it in DeFi to generate returns. I plan to continue holding as long as Ethereum stays within its ascending channel.
⚠️ Caution in No Trade Zone: Be aware of potential high volatility in the no trade zone.
📉 Short Position Strategy: For short positions, consider entering below $2024.
🔜 Future Updates on Targets: I will update the analysis with potential upward targets if Ethereum moves upwards.
📚 Remember: Cryptocurrency markets are highly volatile. Stay updated with market trends and manage your investments cautiously! 🧠💼
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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