Hello Traders, welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Ethereum perfectly retested and rejected, as mentioned in my last analysis, a quite nice previous weekly support zone towards the upside. You can also see that weekly market structure is now definitely back to bullish, considering that Ethereum will also most likely close with a bullish engulfing candle which looks super constructive I simply do expect the continuation of the rally.
On the daily timeframe however you can see that Ethereum is still stuck at the $1900 level which is turned support again; overall Bitcoin is also heavily outperforming Ethereum so I am now just waiting for a break above the resistance and then also Ethereum is ready for more bullish price action.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset: