Technical analysis by cnote56 about Symbol ETH: Buy recommendation (2/22/2024)

Looking at the daily chart for ETH, I'm seeing some good progress here to show solid gains and good support for this price action. While I don't personally like ETH or its blockchain technicals, I do appreciate the impact this token will have on others in the next Altcoin season, where I hope to see some of the wealth rotate out of ETH and into smaller Altcoins. This kind of relative pressure may help XRP escape the downward pressure and release the underwater beachball. But focusing back on ETH we see the Fibonacci levels represented very well with this recent uprising. If these levels hold and we don't see much more profit taking and buyer interest remains, then $3100 per ETH isn't possible. Stay tuned for when ETH breaks $3100, and we might see a big wave of change coming for the Altcoins.