Ethereum (
ETH) is currently trading at a 261-week-old support level, making this a crucial zone for the market.
Earlier, ETH dipped to $1,754, a price level that has historically been significant. This could very well mark the bottom for ETH and potentially for altcoins. However, it's still too early to confirm.
The next two weekly candles will be key, if this support holds, we could see a strong altcoin recovery in the coming months.
Macro Factors at Play:
The broader geopolitical and macroeconomic landscape isn't great, despite this potential setup. Markets in the US, China, and India are facing turbulence, and the crypto market is experiencing low volume and liquidity. These factors could impact price action in the short term.
That said, as the chart develops over the next few weeks, we might witness significant shifts in market sentiment.
Sooner or later, BTC will make its move—either consolidating or attempting to reclaim $90K—while altcoins could start rebounding rapidly. When this happens, the market could turn bullish in a matter of weeks.
Stay Alert, The Opportunity Is Coming:
Now is the time to pay close attention to the charts and fundamentals. Stay sharp, monitor key levels, and prepare for potential opportunities.
I'll be sharing a handpicked list of altcoins that could perform well in the coming days.
DYOR , Not Financial Advice.
Stay tuned.
Do show your support buy hitting that like button.
Thank you
#PEACE
ETH) is currently trading at a 261-week-old support level, making this a crucial zone for the market.Earlier, ETH dipped to $1,754, a price level that has historically been significant. This could very well mark the bottom for ETH and potentially for altcoins. However, it's still too early to confirm.
The next two weekly candles will be key, if this support holds, we could see a strong altcoin recovery in the coming months.
Macro Factors at Play:
The broader geopolitical and macroeconomic landscape isn't great, despite this potential setup. Markets in the US, China, and India are facing turbulence, and the crypto market is experiencing low volume and liquidity. These factors could impact price action in the short term.
That said, as the chart develops over the next few weeks, we might witness significant shifts in market sentiment.
Sooner or later, BTC will make its move—either consolidating or attempting to reclaim $90K—while altcoins could start rebounding rapidly. When this happens, the market could turn bullish in a matter of weeks.
Stay Alert, The Opportunity Is Coming:
Now is the time to pay close attention to the charts and fundamentals. Stay sharp, monitor key levels, and prepare for potential opportunities.
I'll be sharing a handpicked list of altcoins that could perform well in the coming days.
DYOR , Not Financial Advice.
Stay tuned.
Do show your support buy hitting that like button.
Thank you
#PEACE
Trade active
INVALIDATION:- This chart will be invalidated if we break below $1700 and close below it.Let's just hope that doesn't happen.
I'll keep this chart updated.
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Daily Signals:- telegram.me/thecryptorphic
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
MEXC : bit.ly/Trademexc
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
MEXC : bit.ly/Trademexc
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Related publications
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.