ETHUSD
On the weekly timeframe, the current movement indicates that after a strong rise, the price has entered a phase of natural correction following a clear rejection from the previous peaks. The recent decline reached important demand zones from which we saw a rebound, but the price is still below the main supply zones. Technically, the overall trend remains positive in the larger timeframe, but the current movement is considered a correction within an upward trend as long as the price remains above the lower demand areas. The positive scenario remains intact; however, the current rise needs a clear close above the supply zones to confirm strength. Otherwise, we might see additional fluctuations or corrections before any strong new movement. At this stage, patience and risk management are essential.
#ETH #ETHETFS #ETHETFsApproved
On the weekly timeframe, the current movement indicates that after a strong rise, the price has entered a phase of natural correction following a clear rejection from the previous peaks. The recent decline reached important demand zones from which we saw a rebound, but the price is still below the main supply zones. Technically, the overall trend remains positive in the larger timeframe, but the current movement is considered a correction within an upward trend as long as the price remains above the lower demand areas. The positive scenario remains intact; however, the current rise needs a clear close above the supply zones to confirm strength. Otherwise, we might see additional fluctuations or corrections before any strong new movement. At this stage, patience and risk management are essential.
#ETH #ETHETFS #ETHETFsApproved