Ethereum [ETH] notes a strong bullish bias on charts, here's why $1680 is critical
The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
Ethereum has a bullish outlook, and a buying opportunity could present itself on a lower timeframe market structure break.benefited massively from the rally of the past few weeks. The altcoin king has managed to break past the range established in November. It consolidated for a few days above the $1500 mark.At the time of writing, the $1600 level served as support. Another dip could offer a buying opportunity.
To the south, there was an imbalance on the charts from $1564-$1617. The lower timeframe charts showed bearish near-term momentum as well, with the daily timeframe RSI forming a bearish divergence, although the momentum was still firmly in favor of the bulls. The CMF stood at +0.22, which indicated significant capital flow into the market.They do not signal a trend reversal but indicated a pullback to $1617 or $1564 was possible. A further dip was also a possibility.
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