Facts:
- Ethereum continues to lag behind Bitcoin, trading near its lows relative to BTC.
- Multiple oscillators have issued buy signals, indicating potential upward movement.
- Strong upward momentum has been observed in the past hour.
Recommendation:
- Transaction: Long position on Ethereum at market price
- Target: 3578
- Stop: 2891
Opinion:
Ethereum has lagged behind Bitcoin, trading near its yearly lows relative to BTC. Multiple oscillators have issued buy signals in a similar timeframe, indicating potential upward movement. Strong upward momentum has also been observed recently, just before the US markets open. The price has just surpassed the 61.8% Fibonacci retracement level. We set the take-profit slightly below strong resistance at the 78.6% Fibonacci retracement level, with a stop-loss placed at the May lows, just before a significant upward movement.
