
The Ethereum chart is currently in an overall upward trend on its major timeframe, marked with a red line in the image.
On a smaller timeframe, however, the chart is in a downward trend, marked with a purple line in the image.
The support consolidation zone is around 2200–2600, and a potential rebound from this area is possible.
If Ethereum manages to hold the 2200–2600 zone, we could see a mid-term upward movement toward the gray zone indicated on the chart.
Practical Recommendation:
- If you plan to buy and haven’t done so yet, you can consider entering a position once the blue zone holds and the chart breaks out of the downward trend.
- If you already own this cryptocurrency, selling is not recommended given its proximity to the support zone.
Note:
Treat the gray zone as a target for profit-taking and the blue zone as a stop-loss area.