ETH/USDT: Bullish reversal confirmed

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Based on Daily Chart -------

ETH/USDT: Bullish reversal confirmed

Context
The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. There is now a bullish reversal confirmed after having reintegrated 1440


Market configuration

- Graphical Elements :
Graphical support = 1170 / 880
Graphical Resistance = 1670 / 1830 /2170

- Mathematical Indicators:
EMA ( Exp Moving averages) are support = Bullish
RSI indicator (below) is now above 50% = BUllish

- Elliot & Harmonic Wave (Fibonacci):
A last drop to draw the wave (v) (c) (4) is now completed - the market is now bouncing off in recovery
Fibonacci resistance of the wave = 1670 and 1830
Fibonacci bullish wave target at 2170
Fibonacci bullish wave support at 1170
Fibonacci bearish wave target at 880

Conclusion

Prefered case => As long as 1170 remains support a larger recovery towards 1670 and 1830 (intermediate before 2170 is expected

Alternative case => Breaking 1170, double bottom to 880 will occur

Trade ativo:

1830 target reached and surpassed a new analysis will be published