3 min readETHEREUM (ETH/USD):
Ethereum has experienced a solid bullish surge following the U.S. election results, aligning perfectly with the breakout of an internal descending trend line.
A closer examination of the technicals reveals that a short-term “pullback” could target areas of interest around $2,800, which align perfectly with the 50% Fibonacci level. Additionally, the previously broken internal resistance zone could now serve as a potential support level. As highlighted in earlier articles, I noted the asset trading above the 70% level on the RSI indicator, signalling overbought conditions. This has indeed played out, contributing to the short-term bearish momentum we are currently observing.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
