I wish everyone a successful start of the new week! We will begin the reviews with ethereum as it sets the tone on the market and outstrips the heavy bitcoin in reversal speed. The situation in the daily chart is favorable for buyers. As we can see, that same growth candle with a record volume in 680 days became a reliable footing and all the intraday sideways movements occurred above it, which indicates a great interest of the participants in the protection of the levels of their purchases.
We also see two litefinance_com_devtal lines that correspond to two levels of temporary balance and now the price is trading above these levels, which suggests that in the near future, a "volume transfusion" in a wide range of 300-400 and reaching a new fair price can occur. Why is that? All the levels below have been worked out and there is nothing more to do there.
As we have already mentioned, the retest of the downward trend (the circle in the chart) is completed, and this marked the change of the medium-term downward trend in favor of growth.
In the new channel, we see three registers, and proceeding from the formed model, we can say that the price wants to move from the middle to the upper one. This can happen in the near future by passing level 290-295 and subsequently accelerating.
The nearest resistance, and possible targets for some, are in the ranges 320-330, which corresponds to harmony 61.8% to the current decline, and also 380-400, where the main battle for the historic highs will begin. Naturally, before this, the price will have to pass 290-295, but there are all prerequisites for this, and it has come close to this level.
Good luck in your trading!
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