Current price: 2430
Key point: 2405
Our preferred strategy: Buy positions above 2405 with a first target of 2565 and then a second target of 2665.
Alternative scenario: Stop loss and trend reversal upon breaking the 2355 level, targeting the 2270 level.
Technical commentary
Ethereum is moving sideways between support levels of 2355 and resistance levels of 2665, and has reached a 200-period moving average on the four-hour timeframe. It is expected to continue its upward trend towards 2565, and if this level is broken, it will reach 2665.
