Ethereum Market Analysis
Over the past week, Ethereum has outperformed every other major asset. The primary driver behind this rally has been significant institutional inflows, largely due to ETFs attracting substantial capital. Additionally, today’s CPI report delivered highly positive data, further boosting momentum.
Ethereum has now crossed the $4,500 mark and is attempting to break its all-time high (ATH). The probability of breaking the ATH is high, after which I expect a retracement towards the $3,800 range.
At present, if ETH secures a daily close above $4,600, we are likely to see a new ATH. However, if it fails to close above that level, the chart shows two Imbalance (IMB) zones below. In that case, I expect a pullback towards those levels before another strong upward move.
My plan is to initiate buying from those lower levels and hold for long-term targets of $5,000–$6,000. Ultimately, I see Ethereum potentially reaching $10,000 in the future.
ETHUSD https://tradingview.sweetlogin.com/x/lzhG3bwo/
Over the past week, Ethereum has outperformed every other major asset. The primary driver behind this rally has been significant institutional inflows, largely due to ETFs attracting substantial capital. Additionally, today’s CPI report delivered highly positive data, further boosting momentum.
Ethereum has now crossed the $4,500 mark and is attempting to break its all-time high (ATH). The probability of breaking the ATH is high, after which I expect a retracement towards the $3,800 range.
At present, if ETH secures a daily close above $4,600, we are likely to see a new ATH. However, if it fails to close above that level, the chart shows two Imbalance (IMB) zones below. In that case, I expect a pullback towards those levels before another strong upward move.
My plan is to initiate buying from those lower levels and hold for long-term targets of $5,000–$6,000. Ultimately, I see Ethereum potentially reaching $10,000 in the future.
ETHUSD https://tradingview.sweetlogin.com/x/lzhG3bwo/
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.