ETH - 6h. What are the chances of seeing $2860 in April?

31 mar 2021

As badly as the previous month of trading on the ETH market ended, so well buyers are trying to close the current monthly candle. During this month, buyers tried twice to gain a foothold above $1900. However, each subsequent attack of buyers did not change the previous local high and took place at reduced volumes. As a result, a triangle was formed on February 23, which is somewhat different from the triangle in the previous idea:

At the moment, the buyers' attempt to start a new wave of growth has not yet ended. A consolidation in which buyers try to buy out all of the sellers' offer will be in jeopardy if the price of ETHUSDT falls below $1,640.

As of February 20, buyers cannot update the local high. Therefore, if buyers manage to take control of the mark of $1850, the ETH price is likely to continue its mid-term growth with an ultimate target of $2860.


An alternative scenario for the movement of the ETH price to the range of $1400-1450 is possible only if the situation on the BTC market is negative.
____________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!