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31.03.2023 09:43 PMETH/USD rallied in the short term and is trading at 1,830 at the time of writing. The bias is bullish, so further growth is natural. In the short term, it is moving sideways. The range pattern should announce further growth.
Ethereum increased by 9.42% from Monday's low of 1,687 to 1,846 today's high. ETH/USD rallied as the BTC/USD came back higher.
It's trapped between 1,706 and 1,846 levels. The current range is seen as an upside continuation pattern as the bias is bullish. Its failure to stay below the median line (ml) signals strong upside pressure.
1,846 stands as a strong static resistance. The weekly R1 (1,851) represents an upside obstacle as well.
A valid breakout through 1,846 confirms further growth ahead and brings new long opportunities.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
