Just like Bitcoin, I also have a pending analysis since February 20, 2024:

https://www.finlogix.com/analysis/20240219/eth-intraday-analysis-and-trading-plan-for-february-20-2024

There are 8 US major economic reports for this week starting tonight with CB Consumer Confidence.

The crypto markets in general have recovered from last week’s drop led by Bitcoin.

Volatility is still observed throughout this week.

Re-sssessing ETHUSD’s high timeframe candlesticks:

Yearly Candle: Last check is a Small Green Body now a Medium Green Body with a Slightly Longer Head Wick

Monthly Candle: Previous close is a Green Body with a Slightly Longer Head Wick current is Green Spinning Top

Weekly Candle: Previous close is a Red Hammer current is a Green Body

Daily Candle: Previous close is a Green Body with a Longer Head Wick current is a Small Green Body

After Ethereum bears’ capitulation, bulls have continued the uptrend even further.

The ETHUSD yearly candle has extended its gains.

February closed above the important 3000 level and by March backtested it into a support so a pretty obvious result is a monthly breakout towards the 4000 mark.

I think Ethereum bulls has still gas left after printing a fresh 26-month high during Bitcoin’s new ATH move.

For now the previous 21-month high together with the important 3000 level are the short to mid term supports if Ethereum still wants to move higher.

Since I’ve clearly missed my mark in the previous trade analysis, I will also create a long position for ETHUSD.

After a good pullback last week towards its discount array, yesterday’s breakout above 3500 level is enough confirmation for now for a continuous upside rally.

Still holding above the 3570 level intraday, I will enter through current market consolidation challenging the 78.60% fib retracement as take profit from ETHUSD’s recent ATH to the drop from last week’s low.

I will safely set the stop loss in its 4-H 200-SMA.

Here are the following long orders to follow:

I focus buy setups for now as Ethereum might go back to its discount arrays down low.

The important 3000 level is retained, ready to challenge the ATH?

ETH Intraday Analysis and Trading Plan For March 26, 2024

Mar 26 2024

1