We are still bullish on ethereum and with the bullish trend sustaining and forming higher highs and higher lows, we will continue to buy. The trend is per the cryptocurrency market is still bullish and is going to continue to be so. We are looking to go long at the support level of 2380. And then, continue the mark up towards the upper side till the resistance.

The descending trendline has broken out already and the price action has validated the breakout as well. Now, the ascending trendline needs to be tested in order to form a confluence for the impulse up.

The retracement level of 50% is in confluence with the support level to continue up.

EMA 50 is bullish right now and can be retested at the support level for another impulse upwards.

RSI is at 75 which needs to be neutralized at the 50 level in order to align with the technical factors.

Ethereum buys from 2380

Feb 11 2024