This article presents an analysis of the current situation in the Ethereum market, including the reasons behind recent price changes and recommendations for investors.
Ethereum Price Analysis
In recent months, analysts from Roman Trading correctly predicted Bitcoin's price declines. However, this month, the market surprised everyone as Bitcoin reached new all-time highs, altering the outlook. Attention has turned to Ethereum, which shows signs of a potential rally. Although the current situation is not recommended for entering positions, further growth may be expected after a brief pause. 'The daily ETH chart has shown excellent performance so far, but I’m hesitant to buy at this point, as there seems to be excessive buying, indicating a possible need for consolidation or correction before further rises. Once the $4,000 resistance breaks, an ETH rally will commence.'
ETHBTC Chart Analysis
The state of the ETHBTC pair is also under analysis. The anticipation of testing the 0.033BTC level was predicted well ahead of time. Sustained closures above 0.027BTC and the ongoing movement toward the 0.05BTC target are crucial. Investors have engaged in some selling of altcoins, fearing the reversal of the last daily candle. However, discussing a local peak formation becomes challenging without dropping below 0.02957. After days of rising, the ETHBTC pair could again aim for the resistance level after a brief pause.
Conclusions and Investor Recommendations
Investors must consider the risk of double-digit losses in the short term for altcoins. Properly setting stop levels and preparing for a larger pullback, potentially triggered by a possible Bitcoin decline, is essential. However, many analysts maintain a long-term bullish outlook, and short interruptions may not significantly impact their strategies.
Currently, Ethereum shows positive trends, but a correction is anticipated. Investors should carefully monitor changes and consider associated risks.
