Technical outlook:
Ethereum has been drifting in a range since dropping to $2,650 lows over the last week. The crypto remains in buy zone of the trend line support keeping overall bullish structure intact for now. Bulls are looking poised to push toward $450 and $4,300 levels in the next few trading sessions before finding resistance and turning lower.
Etherum has dropped between $4,000 and $2,650 in a corrective manner (3 waves). The crypto had found support at $2,650, just aead of fibonacci 0.382 extension as highlighted on the chart here. Probability remains for yet another drop toward $2,600 and $2,400 levels before turning higher again, though not mandatory.
The crypto is facing immediate resistance at $3,675, while interim support is seen around $2,650 level respectively. A break above $3675 from here would be further encouraging to bulls and open doors towards all-time highs. Traders might want to position accordingly.
Trading plan:
Potential rally to $4,300 against $2,500.
Good luck!
