With the market’s rise, Ethereum surged towards the $2700 resistance level. As seen on the daily chart, Ethereum is trading within a horizontal range between $2100 and $2700, a major price range.
In the event of the market continuing its positive momentum and closing above the $2700 price level on a daily basis, Ethereum would aim for the $3600 level, excluding intermediate resistance zones.
Upon analyzing the 4-hour chart, considering the rapid ascent of the market, it’s important to remember that pullbacks may occur. In the event of pullbacks on lower time frames, the price levels I’m primarily monitoring are $2550 and $2400. Further downward, the $2100 level serves as a major support zone.
The analyses shared here are not investment advice; however, they are considered as potential short to medium-term trading opportunities in the market, indicating support and resistance levels. The responsibility for trading decisions and risk management lies with the user. It is strongly recommended to use stop-loss orders in the trades shared.