As visible in the chart, we have a well-established bullish trend and market structure in the daily timeframe chart of ETH.
Following the formation of a top on March 12th, 2024, the price initiated a corrective bearish move, corresponding to an ABC zigzag correction and retracing approximately 61.8% from the previous bullish move.
Furthermore, the price has also reached a bullish trendline, which could act as static support.
Additionally, tomorrow, on April 19th, we have the halving event, which has historically brought buying pressure to ETH.
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