What is driving the Ethereum resurgence?
Type: Bearish reversal
Key Levels: Resistance: $45,514.76, pivot: $43,995.2 and support: $40,641.22
Preferred Case: Bitcoin is abiding to the descending trendline resistance, signifying an overall bearish momentum.
We can expect price to drop from pivot level in line with 38.2% Fibonacci retracement towards the 1st support in line with 78.6% Fibonacci retracement and 61.8% Fibonacci projection.
Our bearish bias is further supported by Ichimoku acting as a resistance.
Alternative Scenario: Alternatively, price could push higher to the 1st resistance in line with 50% Fibonacci retracement.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI