THIS CAN BE THE LAST CHANCE TO BUY ETH BELOW $4K, BUT WHY?ETH has a very dense market movement these days and shows great resistance. Actually, if the leading exchanges don't manipulate the market and let the ETH HODLers and traders do their trade based on the analytics and logical measures, ETH can hit new records.
In-chain data of ETH based on IntotheBlock.com analysis are highly in favor of ETH. The successful implementation of London hard fork and its consequences in ETH supply flow and scalability, are all key fundamental points for ETH upcoming bullish rally.
In this analysis, we have take the pivot based approach into the consideration as today ETH is performing above its major pivot line in 4H timeframe and could have a successful breakout from Ichimoku cloud.
However, there is a dense resistance ahead at the $3350 to $3650 price levels, which we expect result in downward pullback and surf the price down to $3200 (and possibly $3000). If this occurred, we suggest don't get panic and drink a tea! ETH has a great support zone between $3000 and $2880.
This can be considered as a buying opportunity as we estimate this level will build a spin for accumulation.
September is critical month for ETH to retake its bullish trend, and breaking out the $4k resistance.
As ETH is always performing out of expectation (at least in most cases), it can start a quick surging rally to break all resistances ahead! Impossible is nothing ....
If this scenario goes well, ETH can show a profitable ROI for its investors in Q4 of 2021 and hit new ATHs.
Price levels and targets are marked by horizontal lines.
Have a profitable ETH trade ahead.
