According to analyst Dan Gambardlo, the price of Ethereum (ETH) shows signs of trend changes that can push it to level $ 3450.
In his recent market analysis and forecasting the price of Ethereum (ETH), Gambardlo emphasized that “bulls have the upper hand” on Ethereum.
He pointed to the oscillators of the impulse, which begin to turn bulls for the second largest cryptocurrency.
The analyst noted the large accumulation of Ethereum whales. He compared the current diagrams of tributaries with models that previously noted the beginning of the market bottom.
Bulls win the upper part, since
Ethereum, in the same way, is on the key turning point in its market cycle. Several indicators suggest that the bottom process enters the beginning. Gambardello identified the patented indicator “Arena Bear Arena”, which demonstrates a clear shift in market control.
“Bulls now have the upper hand.
This shift is important because it reflects the patterns observed in previous market cycles. The analyst carried out parallels with similar indications of indicators from August-September of the previous cycle, which preceded a significant breakthrough of the Ethereum in November.
Providing that this is a shorter signal, and not a macro indicator, Gambardello noted that these shift impulse, as a rule, precedes wider market movements. Data on the activity of the whale enhance this bull forecast, while the diagrams show a significant accumulation of ETH at the current levels. Gambardello compared these tributaries with similar laws, which noted the beginning of the previous bottom of the market.
A long -term triangular template indicates a critical level
The price action of Ethereum is approaching the technical scheme, which can determine its medium -sized trajectory. Gambardello specifically pointed out a long -term symmetrical triangle, which contained the price of ETH.
“I want this to become a torn template, this massive many -year symmetrical triangle, a ruined template that we return to the APEX and Boom Bull market for all coins. This is what I want to see, ”said Gambardloo.
The analyst closely monitors the range of $ 2700-2800 as a key resistance zone for Ethereum. This price level corresponds to the top of the triangle scheme and is a critical technical obstacle that ETH must overcome in order to confirm the bull script.
Global liquidity trends can be in favor of this potential breakthrough. Gambardello quoted M2 Global liquidity levels with a 108-day delay, which, apparently, indicates positive conditions for raising prices. This macros liquidity index was tended to correlate with serious changes in the trends of the crypto -market.
If the price of Ethereum is able to check and break this scheme, this will be evidence that Gambardello calls the “torn template”, in which the price returns to check the broken model before continuing in the direction in which it broke. This technological progress would be extremely optimistic for ETH and, possibly, the entire altcoins market.
Altcoin market will follow in the footsteps Ethereum
The Ethereum position on the market currently affects its price, and can also reflect the trends in the market of the common altcoin. Gembarello consists in the fact that the price action in ETH can make the entire altcoins market at a low level, as was the case in previous market cycles.
The analyst studied the altcoin market diagrams for several months and observed the similarity between the current market structure and the previous main minimums. The market currently demonstrates the levels of fear similar to the main historical minimums, such as the tariff fears of 2018 and the 2020 Covid-19 panic.
“How can you not optimistically use Crypto today? I understand, if not, but, looking at this information, I feel extremely optimistic, ”said Gambardlo, looking at the monthly diagrams of Altcoin.
On a weekly graphics, the analyst noted that the Altcoins impulse indicators fell to a low level of about 37 on RSI, as well as indications at a low COVID level. This technical equivalence is an indicator of the existing situation.
The direct obstacle in the Altcoin market, apparently, is a 50-week sliding average, and a 20-week sliding average average of about 1.2 trillion dollars at the level of market capitalization is another key technical level. This will require approximately 14-15% of the movement from current levels.
