Cryptocurrency Analysis and Forecast ETH
Technical Analysis for ETH:
Support along the border of the global ascending trend and resistance of the descending trend (starting from 10.11.21) are holding the ETH price within a narrow corridor of 1500-1900. Target values and support are at 1694, 1677, 1510, with resistance levels at 1900, 2590.
Quantitative Analysis suggests a phase of accumulation, followed by a phase of active movement with high volatility.
7-10 Days Forecast:
There's a high probability of an impulsive decline towards support, followed by consolidation and continued growth to 1900-2000 to break the downward trend.
Fundamental Analysis:
1) Coins such as BTC, SOL, XRP, FIL have been actively accumulated in traders' portfolios over the last 10 days.
2) Markets are now pricing in three 0.25% Federal Reserve rate cuts in 2024 — BBG.
3) The European Central Bank and the Bank of England are rolling back their high-interest rate policies.
4) Factors from points 2 and 3 are causing a shift of funds into deflationary assets, along with a renewed appetite for high-risk financial instruments.
Support along the border of the global ascending trend and resistance of the descending trend (starting from 10.11.21) are holding the ETH price within a narrow corridor of 1500-1900. Target values and support are at 1694, 1677, 1510, with resistance levels at 1900, 2590.
Quantitative Analysis suggests a phase of accumulation, followed by a phase of active movement with high volatility.
7-10 Days Forecast:
There's a high probability of an impulsive decline towards support, followed by consolidation and continued growth to 1900-2000 to break the downward trend.
Fundamental Analysis:
1) Coins such as BTC, SOL, XRP, FIL have been actively accumulated in traders' portfolios over the last 10 days.
2) Markets are now pricing in three 0.25% Federal Reserve rate cuts in 2024 — BBG.
3) The European Central Bank and the Bank of England are rolling back their high-interest rate policies.
4) Factors from points 2 and 3 are causing a shift of funds into deflationary assets, along with a renewed appetite for high-risk financial instruments.
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