Ethereum is about to retest a perfect confluence of support from which a bullish reversal is almost certain. Following the overall bullish trend, Ethereum should retest the previous all time high next and then maybe even follow Bitcoin and create new all time highs going into 2025.
Ethereum is now almost back to the previous breakout level, creating a bullish textbook break and retest. Market structure is still bullish on the higher timeframes so it is quite likely that Ethereum will create a bullish reversal after retesting the horizontal structure.
And again another analysis is playing out as expected and it seems like Ethereum is now heading for the previous all time high after the recent "flash crash". As always, looking at the overall picture is a key aspect of trading which can definitely make you a lot of money.
Ethereum is still sitting at the confluence of support but is slowly heading higher and higher. It is still a valid bullish break and retest and the overall trend is clearly towards the upside. Just make sure that you really don't get caught up in these short term agressive swings.
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