ETH - 4h. The critical point of the local growth trend is $1270.
The local weakness of the BTC market and the systematic decline in its dominance played a positive role for ETH.
If on January 22 the price of ETH submissively fell along with the price of BTC, then during yesterday's local attack of sellers in the BTC market, the ETH market showed growth.
Today, trading volumes in the ETH market are higher than BTC.
At the moment, buyers have taken the critical level of $1270, which we wrote about in the previous idea:
Now buyers have managed to update the local high, but the price continues to trade within the yellow wedge. In order not to lose the initiative, buyers need to keep the mark of $1270 and after consolidation to continue to grow with the first local target of $1570.
From the nature of the ETH price increase, it will be clear whether there is a prospect for stronger growth with a target of $1800.
The loss of the $1270 mark will continue to consolidate within the wedge and sellers will test the range of $1150-1200. This scenario also has a right to life. Given that the previous weekly candle of the ETHBTC pair closed to continue medium-term growth, a slight correction to the green range is still possible:
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If on January 22 the price of ETH submissively fell along with the price of BTC, then during yesterday's local attack of sellers in the BTC market, the ETH market showed growth.
Today, trading volumes in the ETH market are higher than BTC.
At the moment, buyers have taken the critical level of $1270, which we wrote about in the previous idea:
Now buyers have managed to update the local high, but the price continues to trade within the yellow wedge. In order not to lose the initiative, buyers need to keep the mark of $1270 and after consolidation to continue to grow with the first local target of $1570.
From the nature of the ETH price increase, it will be clear whether there is a prospect for stronger growth with a target of $1800.
The loss of the $1270 mark will continue to consolidate within the wedge and sellers will test the range of $1150-1200. This scenario also has a right to life. Given that the previous weekly candle of the ETHBTC pair closed to continue medium-term growth, a slight correction to the green range is still possible:
______________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
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