Etherem to 4k without serious correction?As usual, BITSTAMP:ETHUSD tends to catch up with BITSTAMP:BTCUSD initially, as its price lags behind.
However, after the leader experiences significant upward movements, Ethereum follows suit and often surpasses those gains.
Technically, the price has been confined within a long upward accumulation channel. Once this channel was breached, the price accelerated to the upside.
Currently, Ethereum is in a consolidating phase, and a new upward movement could be imminent.
Considering the measured target for the long-term channel, we could anticipate a rise to around 4100.
Switching to a shorter timeframe, we observe that after the volatile day on February 29th, dips in ETH are aggressively bought, resulting in new highs (unlike BTC).
A break above the 3.5 zone should accelerate gains, with 3750 serving as the short-term target.