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Ethereum Market Analysis:
Ethereum recently crossed and closed below the 1D MA50 for the first time since February 5th, indicating a potential increase in selling pressure. The price is expected to reach the green zone, which lies between the 1.0 and 0.0 Fibonacci levels - a historically significant Buy Zone in Fibonacci Channel rallies. A dip towards the 1D MA100 is probable to attract more buyers before a rebound. A bullish reversal will be confirmed with a 1D MACD Bullish Cross. The next target range is projected to be between the 4.0 and 5.0 Fib Zone, with a TP at 5,900, signifying a potential 13% increase from the last Bullish Wave.
Previous Performance:
Check out the outcome of our past analysis to gain insights into our forecasting accuracy.
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