The balance of power in Ethereum is gradually improving. Market sentiment is becoming more positive for purchases.
A Double Bottom pattern has formed on the chart, indicating a possible upward reversal. An important signal to confirm of this pattern is the breakthrough of the neck line located at the level 4378.49. A breakdown of the neckline endorses a trend reversal scenario and opens up opportunities for further price growth. To do this, we must see the price consolidate above this line.
On this timeframe for Ethereum it is preferable to open long positions.
📌 Entry: 4388.24
✔️ First target: 4526.71
✔️ Second target: 4625.53
❌ Stop order: 4254.97
Ethereum M30: The downward movement is losing momentum
