Can Ethereum Reach a New All-Time High?
2024-10-16

Hello, traders!

Let’s analyze ETH on the weekly timeframe.

ETH is currently at its support trendline, and a rebound is expected soon. In the past, ETH has consistently respected this trendline, and we can expect a similar move this time.

A rebound from the current price could easily target the all-time high of $4868, which would be a 128% gain from the support level. The 200 EMA is providing strong support, merging with the support trendline.

The RSI indicates a hidden bullish divergence, signaling a potential positive move for ETH.

Key points to note:

~ Support Range: $1950-$2523.
~ Target: $4868 (ATH).
~ RSI: Hidden Bullish Divergence.

Note: Always do your own research and analysis before making any decisions.

Trade safely!