TradeCityPro | ETHFI : Breakout and Bullish Momentum

5 Dis

👋 Welcome to TradeCityPro!
In this analysis, I will review the ETHFI coin. This platform is one of the most significant DeFi platforms with a high TVL (Total Value Locked).

📅 Daily Timeframe: Breakout of the Range and Start of an Uptrend
In the daily timeframe, after a sharp drop to the 1.202 support, a range box formed between 1.202 and 1.865.

✨ Following this consolidation within the range and with increasing buying volume, the 1.865 resistance was broken. Currently, after testing the 2.556 resistance once, the second attempt has successfully broken it. The next significant resistance on the chart is 3.264.

📈 After the breakout, volume has gradually decreased, and candle sizes are shrinking, indicating potential weakness in the trend and increasing the probability of a correction.

🔑 On the other hand, the RSI is nearing the Overbought zone, and if it manages to stabilize above 70, the likelihood of a sharp upward move will increase significantly.

🚀 In the case of a sharp move, the next targets are 5.128 and 7.907. If 7.907 is broken, a new ATH (All-Time High) is likely to be established.

🔽 In the case of a correction, the first significant support is at 1.865, and if this area breaks, market momentum will dissipate.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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