Pivot point: 3500 .
The expected scenario: Entering long positions at the highest levels of $3500, targeting the $4900 levels.
Alternative scenario: entering short positions below the $3500 levels, targeting the $2500 levels.
The commentary: Ethereum is still maintaining the general upward trend, through the bullish price channel, which worked to raise the price from the levels of 1700 dollars, to the levels of the 4000 dollars, and despite the recent downside wave that we witnessed during the trading last week, the price is still coherent within the bullish price channel, and the top of the general trend line, in addition to the presence of the liquidity flow indicator in oversold areas, which supports the positive outlook for Ethereum trading in the short term and targeting the aforementioned levels.
