Ethereum follows the same logic, and it has not shown independence in its recent movements this month. Its structure is almost identical to that of Bitcoin, with only higher volatility.
After a rapid rise, it retraced some of yesterday's gains. This was a short position synchronized with Bitcoin, which took profits around 3300. The goal is to digest the indicator and then move into a second wave of upward movement.
Additionally, Ethereum did not break the previous daily high yesterday despite being relatively weak earlier. It is clear that there is no need to chase above 3350. While upper space is not denied, it is more likely to get caught in a trap, with a risk-reward ratio that is average. The main focus is on the pullback after the next high point, waiting for a trading opportunity between 3460 and 3500 within the week...
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Ethereum follows the same logic, and it has not shown independence in its recent movements this month. Its structure is almost identical to that of Bitcoin, with only higher volatility.
After a rapid rise, it retraced some of yesterday's gains. This was a short position synchronized with Bitcoin, which took profits around 3300. The goal is to digest the indicator and then move into a second wave of upward movement.
Additionally, Ethereum did not break the previous daily high yesterday despite being relatively weak earlier. It is clear that there is no need to chase above 3350. While upper space is not denied, it is more likely to get caught in a trap, with a risk-reward ratio that is average.
The main focus is on the pullback after the next high point, waiting for a trading opportunity between 3460 and 3500 within the week...