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ETH analysis – the price is still bullish, where is the nearest target?

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ETH despite correction BTC in recent days he has continued his growing leg. The last low even bounced off point of control of the entire sideway structure at the level of $ 2,566. Even in the case of Ethereum, during the growing leg, we can see slightly increasing volumes, which is also a bullish indicator.

The nearest target we will be tracking is at level $ 2,900 and then to level $ 3,300. If the price of Ethereum exceeds $ 2,900, the sideway structure, which has been in force since the last week of May, will definitely be terminated.

On the other hand, there are supports at the levels of $ 2,566, where there is a point of control, and then at the levels of $ 2,350 and $ 2,125. ETH thus continues to grow in the short term. In the long run, however the market price is still in the sideway structure. RSI, meanwhile, continues to negatively divergent, creating declining maximum.

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

ETH is bullish

From a fundamental point of view, ETH is in an important phase. Hard fork Ethereum London was one of the most discussed events 2021. However, it is naive to assume that the price will only increase. Many profits caused by expectations are already included in the price.

A look at what you can expect from the price Etherea after the London hard fort, it is possible to get a look at how they affected the price of the previous update. Average yields after updates were 5.1% over the next 30 days, 28.8% after 60 days, and 64.4% after 90 days. From a fundamental point of view, therefore, it is ETH bullish.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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