ETHEREUM BREAKING THE RESISTANCE ENTERING THE $3K LEVEL.
Welcome folks to the new update on ETH in 4 hours TF.
The month of March has begun and it's a good kick-off for the entire market. This is also the last month of the 1st quarter and so far things look good. Ethereum is almost 19% up from the last bounce at $2558 and the current price is breaking the upper trendline which is also a resistance level. We cannot completely claim this to be a breakout until and unless the candle closes. A breakout will be a positive move for ETh and it could possibly rally up to 3.2k to 3.6k. A break down on the other hand will drop the price back to 2.8k to 2.5k.
The entire is green right now so we need to slow down a bit and be careful. The F&D index is neutral and now the indicator can fall in any direction. The RSI on the other hand is at the overbought zone.
I believe that the market needs to calm down a bit and then make a higher rally gradually. What do you guys think?
Do like, share, and comment for more updates.
Thank you.
The month of March has begun and it's a good kick-off for the entire market. This is also the last month of the 1st quarter and so far things look good. Ethereum is almost 19% up from the last bounce at $2558 and the current price is breaking the upper trendline which is also a resistance level. We cannot completely claim this to be a breakout until and unless the candle closes. A breakout will be a positive move for ETh and it could possibly rally up to 3.2k to 3.6k. A break down on the other hand will drop the price back to 2.8k to 2.5k.
The entire is green right now so we need to slow down a bit and be careful. The F&D index is neutral and now the indicator can fall in any direction. The RSI on the other hand is at the overbought zone.
I believe that the market needs to calm down a bit and then make a higher rally gradually. What do you guys think?
Do like, share, and comment for more updates.
Thank you.
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