Hello Traders and Investors, my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Ethereum💪
If we are looking at the macro view on the monthly timeframe you can see that Ethereum perfectly retested the 0.768 fibonacci level in confluence with the previous cycle high so there is a chance that from here we will start the next crypto bullrun.
Looking at the weekly timeframe you can see that Ethrereum is slowly channeling higher and in confluence with the bullish moving averages I simply do expect more bullish pressure.
Exactly 3 days ago Ethereum perfectly broke daily resistance towards the upside which is now of course turned support so with the current retest of the $1940 level we could see another rejection higher.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
I am also inclined to believe that in the near future (3-4 days) price growth in the cryptocurrency market will continue, including the cryptocurrency ETH