Ethereum Is on Fire—$3,900 or Bust!
2024-11-14


ETHUSDT is displaying strong bullish momentum, supported by multiple technical indicators. The EMA Ribbon is trending upwards, reflecting a solid bullish sentiment, and the price remains firmly above it, using the ribbon as dynamic support. This alignment suggests that buyers are in control, reinforcing the likelihood of continued upward movement.

Adding to this bullish outlook, the TSI indicator is currently above the zero line and its moving average, which confirms the momentum on the upside. As long as the TSI maintains its position above these key levels, the bullish case remains intact.

From a price structure perspective, ETH recently broke above the critical 2820 level, which had previously acted as resistance. This level is now expected to serve as a strong support zone. A potential retracement to this area could offer a favorable entry point for long positions. On the upside, the next major resistance sits at 3900, aligning with our target for this move.

Further confidence in this bullish scenario comes from the Signal Builder, which recently flashed a buy signal in alignment with the EMA Ribbon, TSI, and price action dynamics. This confluence of signals suggests a high probability of ETH continuing its ascent toward the 3900 target.

👨🏻‍💻💭 Do you see ETH rallying to 3900, or could we see a pullback first? Share your thoughts below!
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