Ethusdt trading opportunity
2024-02-06

Ethereum is presently positioned above a pivotal support line that delineates the current trend. Recently, the coin experienced a rejection from its proximate resistance level. 

Anticipation of a subsequent rejection upon a retest of this level is warranted. Should this rejection materialize, focus should pivot to the immediate BUY BACK ZONE for potential re-accumulation strategies. The aforementioned trend-defining support line is recognized as a substantial level of interest; while it is expected to sustain price levels, a breach below this threshold would necessitate reliance on the underlying strong demand zone to uphold the asset's value. 

Subsequent to stabilizing within this demand zone, the target shifts towards surpassing the current all-time high (ATH), with the current price action suggesting the formation of a potential 'cup' pattern.

Additionally, analysis of the wave pattern within this context reveals the completion of waves one through four, setting the stage for the initiation of the fifth and final wave. This development is pivotal for the formation of the concluding leg of the wave sequence.

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