Ethereum / TetherUS
Updated

ETH New Analysis (4H)

725
After the weekly trigger line was broken and a key supply was cleared, most of the major market participants have been accumulating Ethereum. Considering the momentum and power of the previous bullish trend, we expect nearby supports to hold well and a large distribution phase to form.

In this phase, in order to fill the orders of big players and create a strong bullish outlook before a major correction, the price is expected to revisit the previous bullish wave or even hunt Ethereum’s all-time high.

As long as the green zone holds, we anticipate a price pump for Ethereum in the coming days.

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It seems that the strength of the range was not sufficient, and the price is expected to move downward once again.

We have updated the support zone. Upon reaching the specified area, we expect a short-term trend reversal.

Let’s wait and see what happens.
snapshot

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