ETH ready for 3, 2, 1 and go!!!!

On the daily, ETH has had wonderful days but it is not easy to see here when, for example, the extended fib flipped 3,618. We will look at this in a moment on the lower timeframe. There is something else to show though. If you watch my analyses regularly then you've probably noticed that when there is a divergence I often say that when the rsi breaks the trend line on the other side that price usually goes after it. And that is exactly what happened here. The two red arrows indicate the divergence and the yellow one shows a breakout + retest of the trendline indicating the divergence. On the candles you see a bullish candle pattern forming and the price is indd going after the rsi.

Now let's quickly go and see what we can expect from Ethereum in the coming hours/days.
daily chart:

On the four hour chart we see that the zone we were in has been tested twice and the price seems to be moving in a sideways range. The ESMAs remain the same in terms of spacing but do flatten out a bit and offer solid support. Exactly what you want to see in a sideways movement. In this range the rsi managed to rise above the ema and the 50 level after which it occasionally exchanged places with the ema but always managed to stay above the 50 level. This also corresponds to a sideways movement.

4h chart:

Here LH are printed on the chart each time which shows a downtrend line. On the downside the candles are nicely captured in the red zone that has confluence with the ema200. You could even argue that HL are emerging although I don't like them very much myself but as a last resort there is also the longterm uptrend line there.

Ema's are still bullish only as you can see the strength has diminished. The rsi has been moving sideways for a nice while and manages to hold up nicely above the 50 level.
1h chart:


I expect that if 1825 - 1828 is going to be flipped to support that Ethereum is going to move back towards the new ATH that was set February 13 at $1875. Su[pport we should be able to find at $1740 - 1770 with possibly a wick on the lower timeframes towards the 1710 region.

Psychological resistance could occur around 2K but looking at the Fibonacci levels I do expect serious resistance at 4,618 (2169).



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Technical analysis by Mr. Coingrats
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