Ether Lee is trading about $ 2,500 after not recovering $ 2,700 for a week. Despite rejection, market sentiment is still optimistic, and many analysts are watching the latest fullback as part of a healthy integration stage. After a few weeks of volatile swing, ETH seems to stabilize more than major support levels and potentially set steps for more powerful evacuation for the next few weeks.
The chief analyst shared the technical outlook that TED Pillows suggests that Ethereum can form a reverse head and shoulder pattern on the 12 -hour chart. According to Pillows, this structure can serve as a foothold for ETH to test more than $ 2,700 and potentially destroy it.
ETH's ability to maintain $ 2,500 is currently a positive signal. The bull is trying to defend its main support and build momentum. When the pattern is confirmed, the following legs may be high. However, if you do not maintain the current level, new sales pressure may be invited. As the market is waiting for further confirmation, Ether Lee's technology setting continues to attract attention from traders looking at the next movement.
Ether Lee Rium should lead to checking Altseason.
I continue to ask for Altseason, which many analysts come in, but agree with most major requirements. Ethereum must collect more than $ 3,000 to lead the fee. As the second largest cryptocurrency by market cap, ETH is a historically wider gateway to the larger Altcoin rally. Without participation, the possibility of full -fledged Altseason is still low.
Currently, Ether Lee is a transaction of nearly $ 2,500, and is integrated after attempts that have not penetrated $ 2,700 earlier this week. Despite these rejection, optimism is still high. Analysts like Ted pillows think that ETH is simply setting up a larger breakout. In his latest analysis, Pillows is to develop reverse head and shoulder patterns on a 12 -hour chart. It is often a strong structure established before the trend reversal.
According to Pillows, the brake out on the $ 2,700 neckline will be a powerful technology confirmation and may be able to move quickly to $ 3,000. “If ETH ends more than $ 2,700 with momentum, it won't take a long time to reach $ 3,000,” he pointed out.
Many people also think that Ether Leeum's explosive movement can come immediately after Bitcoin's impulsive push rather than ever. When the BTC is cooled, the capital can rotate with ETH and large caps, so that new legs can be extended throughout the board.
Price behavior details: Main level to watch
Ether Lee is currently trading at $ 2,512 in a four -hour chart after not penetrating $ 2,700 in the week. This chart shows the ethical integration between $ 2,470 and $ 2,700, forming a look at the advanced right shoulder of reversal and shoulder patterns.
34 EMA (Green) is $ 2,557 and ETH is now traded under it and represents short -term weaknesses. However, $ 2,511 of 100 SMA (Purple) provides immediate support, and Bulls must defend this level to avoid deeper corrections for 200 SMA, which is now nearly $ 2,156.
It suggests that the volume decreases during the recent fullback, which can lose steam. As long as the ETH has more than $ 2,470 and avoids failure under the neckline of the pattern, the setting is valid. The more than $ 2,700 confirmed brake outs can move quickly to a psychological $ 3,000 level.
The following few sessions are important. Ether Lee Rium needs to regain 34 EMA and get more than $ 2,600. Otherwise, if you do not maintain support, the expected evacuation and Stall Altseason hope may be delayed.
DALL-E's main image, TradingView chart
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