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ETH analysis – the price after overcoming the sideway structure is likely to reach the new ATH

1 min read

ETH achieves much higher retracement than BTC alone, which is reflected in the BTC / ETH pair. Price Ethereum still moves sideway. From double peak at about $ 4,800 however, the price is not that far. Will  be able to go to the new maximum, or will we still have to wait for this?

The price from the minimum, with its subsequent growth, erased almost the entire correction that preceded the growth. Still, it may have trouble overcoming the last ATH and the sideway structure can continue. However, such a structure is just below the ATH, which it represents bull signal to continue the growing trend.

ETH / USD 4HETH / USD 4H. Source: TradingView

ETH is still a sideway

The ETH sideway structure has support at about $ 4,000. This zone represented the previous long-term maximum, which arose in early September. So this testing is also a bull signal. The nearest resistances are at $ 4,600 and $ 4,800.

So at the moment ETH continues in the sideway structure just below ATH and probably the current short-term rising leg will not be the breakthrough. Nevertheless, in the long run ETH reaches growing lows and highs and the trend remained unchanged.

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