Technical analysis by VctMid about Symbol ETH: Buy recommendation (12/6/2024)

Ethereum is maintaining strong bullish momentum, currently trading at $4,020 (+6.20%). The price action shows a clear bullish trend, with signs of further growth potential. Let’s dive into the details 👇📊 Current Market Overview1.Trend: A steady uptrend is visible, supported by higher highs and higher lows.2.Key Levels:•Resistance: $4,020 — the current price is testing a significant resistance level. A breakout could lead to $4,400–$4,500.•Support: $3,600 — a solid support level that has previously served as a springboard for buyers.3.Volume Profile: The visible range shows high interest in the $3,600–$4,000 area, reinforcing these levels as critical zones.📉 What Do the Indicators Say?1.Midas Multi Indicator:•The Buy (5) signal remains active and continues to play out well. Price action is in the upper half of the channel, indicating strong bullish control.•The next significant resistance aligns with the upper boundary of the trend channel around $4,400.2.RSI: Nearing the overbought zone, but still not signaling an imminent reversal. The strong trend may sustain for some time before a pullback.3.MACD: Momentum remains positive, with the MACD lines diverging and supporting further upside movement.🔮 Price Movement Forecast•Probability of Growth: 75% 🚀. A breakout above $4,020 could push ETH to $4,400 or even higher.•Probability of Correction: 25% ⚠️. A pullback toward $3,600 is possible, providing an opportunity for buyers to re-enter.🎯 What Am I Doing?1.Holding my long position and waiting for a breakout confirmation above $4,020. If confirmed, I’ll aim for $4,400.2.If a correction occurs, I plan to buy more in the $3,600–$3,700 range to ride the next wave of growth.🔥 If you found this analysis helpful, drop a like and a 🚀! Follow me for more updates on ETH and other top-performing assets.❗ P.S. Want access to the Midas Multi Indicator? Click the link in my profile to start using it for free!