ETHEREUM road to new ATH!
Here we have an analysis for Ethereum in 1H time frame. we can consider two scenarios.
Bullish Scenario:
If ETH breaks above the immediate resistance (PA) around $3,700, it could rally towards higher resistance levels at $3,900, $4,000, and potentially up to $4,400.
This is depicted by the black projected path, suggesting a continued uptrend.
Bearish Scenario:
If ETH fails to break the $3,700 resistance and moves below the immediate support of $3,520, it could see further declines.
The orange projected path indicates a potential drop towards $3,360, $3,280, and a significant support level around $3,125.
This scenario suggests a possible deeper correction before any potential recovery.
Bullish Scenario:
If ETH breaks above the immediate resistance (PA) around $3,700, it could rally towards higher resistance levels at $3,900, $4,000, and potentially up to $4,400.
This is depicted by the black projected path, suggesting a continued uptrend.
Bearish Scenario:
If ETH fails to break the $3,700 resistance and moves below the immediate support of $3,520, it could see further declines.
The orange projected path indicates a potential drop towards $3,360, $3,280, and a significant support level around $3,125.
This scenario suggests a possible deeper correction before any potential recovery.
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