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Ethereum
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ETHUSD → What's the significance of 2300? When's the growth?

By RLinda
Updated
ETHUSD in the correction phase is testing the ascending support line, which divides the bullish trend into two planes. At the moment it is worth to pay attention to the level of high importance - 2300.

snapshot

This level was formed in the beginning of 2022 and has several confirmations, including the current consolidation, or rather the sawing of this area. The price looks quite strong, because on the unclear market sentiment, ETH is still above the support and buyers are not yet letting the price near the risk zone - 2230 - 2145.
The fundamentals are fairly confident for eth. The coin from further growth at the moment is restrained by a stop in BTC, which after a rally of a number of fundamental reasons went into a consolidation phase.

Support levels: 2300, rising line, 2145
Resistance levels: 2383.

In the future, if the situation persists and the coin does not break the support, we should consider consolidation above 2300 with the subsequent breakout of 2383 and growth to the above target, as the bullish prerequisites are still in place

TOTAL BTCUSD

Regards R. Linda!
Note
snapshot
Note
We are waiting for a consolidation above 2383.
Consolidation above this area will confirm the formation of a strong support area
Trade closed: target reached
Target 1 reached!
Note
2644 - retest continues.
Price closes very close to the level
This increases the chance of a breakout.

Consolidation above 2644 will form a possibility of further growth continuation
Note
snapshot

Ethereum also reaches one of the intermediate targets and updates the high to 2772. On local timeframes, the coin still shows technical strength and is ready to continue growing.
BTCBTCUSDChart PatternsCryptocurrencyETHETHUSDFibonacci RetracementFLATSupport and ResistanceTrend AnalysisZigzag
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