Ethereum Shows Indecision While Bitcoin Dominance Signals Potential Bullish Move
CRYPTOWZRD provided insights on Ethereum's current market status, noting its indecisive close, which indicates ongoing uncertainty. He highlighted the following key points:
- Ethereum's monthly candle closed uncertainly while the quarterly candle shows bullish conviction.
- Bitcoin's strength and dominance may positively influence Ethereum in the near term, with $2,800 identified as a significant resistance level.
- ETHBTC is demonstrating upward movement from a monthly double-bottom pattern, indicating potential for growth.
- $2,400 serves as Ethereum's primary daily support; maintaining this level keeps the bullish outlook valid.
- A breakout above $2,550 could signal a strong bullish trend, while a pullback to $2,380 might present another buying opportunity.
CRYPTOWZRD plans to monitor lower timeframes for potential trading opportunities amid volatility. He aims to identify clear setups that align with price structure and momentum for effective scalp trades.
