Ethereum - Bullish if can stay above 2250
Updated
The usual target zone of blue wave 3 (161.8% to 200% projection) has been exceeded.
In such cases price has a tendency to then go for the 261.8% Fib level which in this case is at 4467.
But because we have a few important Fib levels forming a potential resistance cluster around the 3300/3600 zone, I recommend going for that at first.
Only if that zone is broken to the upside we can look for the 4400/4800 zone next.
Notice that ideally price shouldn't go below the 50RSI level but rather go above the 70 level and also, the blue 10Week EMA shouldn't see a clean break down.
In such cases price has a tendency to then go for the 261.8% Fib level which in this case is at 4467.
But because we have a few important Fib levels forming a potential resistance cluster around the 3300/3600 zone, I recommend going for that at first.
Only if that zone is broken to the upside we can look for the 4400/4800 zone next.
Notice that ideally price shouldn't go below the 50RSI level but rather go above the 70 level and also, the blue 10Week EMA shouldn't see a clean break down.
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