---- Short-term Analysis for the next coming days - Hourly Chart (LOG)-------
ETH/USDT: Turn Neutral between 960 & 1175
Context - The ETH reversed up above yearly key support at 880 before drawing a start of bullish reversal - However the recent hours jeopardize the bullish reversal by reintegrating 1075 - Turn neutral
Market configuration
- Graphical Elements : Graphical Resistance = 1175 & 1380 Graphical Support = 880 & 795
- Mathematical Indicators: EMA (Exp Moving averages) are crossing down (bearish cross) = Bearish RSI indicator (below) is back in negative area = Bearish
- Elliot & Harmonic Wave (Fibonacci): Fibonacci Target (c) has been already reached = 1380 Fibonacci resistance of the wave in progress = 1175 Fibonacci support of the wave in progress = 960 Fibonacci Bearish Target = 795
Conclusion
Today the market is progressing the previous pivot level at 1075 jeopardizing the bullish reversal.
Turn neutral between 960 & 1175, only a break of those level would confirm a clear directional
Trade active
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Upside confirmation level at 1115 surpassed - bullish move confirmed