How did Ethereum price perform in the past 24 hours? The bulls managed to resolve three consecutive daily hesitative candles to the upside, signalling renewed bullish enthusiasm in the near term.
TA wise, what can we expect from ETC in the next 24 hours? Within a neutral bias called by mixed tools, Ethereum bulls look poised to retest the recent peak at 3274. Successful bulls would validate a bullish bias towards an immediate target at 3420.
Maintenance of the psychological support at 3000 would heighten the anticipated bullish scenario. Otherwise, the bears are likely to counter towards the daily trough at 2830.
FA wise, what can drive the price to the anticipated targets? The easing of geopolitical tensions over Ukraine, with Russia pulling back troops in the guise of an end to a large-scale military drill, is likely to spur demand for risk-on assets, including cryptocurrencies.