ETHUSD - Weekly Forecast - Technical Analysis & Trading Ideas

Midterm forecast:

• While the price is above the support 2726.71, resumption of uptrend is expected.
  
• We make sure when the resistance at 4100.00 breaks.
  
• If the support at 2726.71 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  

Technical analysis:

• The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  
• A trough is formed in daily chart at 2908.80 on 01/13/2025, so more gains to resistance(s) 3508.51, 3695.27 and maximum to Major Resistance (4100.00) is expected.
  

Take Profits:

1. 3695.27
   
2. 4100.00
   
3. 4500.00
   
4. 4868.00
   

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