Technical analysis by Ivan_Olyanskiy about Symbol ETH on 12/21/2023

ETH looks very strong this month. Despite the potential for a reversal, the momentum is climbing, and it has broken out of the Overbought (OB) zone with buyers coming in. The bullish impulse hasn't started yet. The weekly chart looks a bit weak. On the 3-day chart, there's a likelihood that it will test $2400 again. But it all depends on whether Bitcoin will make another move upwards. There was a signal to close long positions and two orange bars indicating a potential reversal. $1700 is a good level to consider buying. The daily chart is going sideways, but there were two strong signals indicating a reversal.