Instrument : ETH/USDT
Time Frame : 4H
Exchage : Bitget
Trading Type : Swing Trading
"This is the 4-hour chart of Ethereum.
First, the uptrend that started in September 2024 can be seen. Around November 7, 2024, there was a strong surge following Bitcoin’s rise, which I believe marks a strong support level.
In December 2024, there were two tests of the high points. While Bitcoin reached new highs and started a major upcycle, Ethereum has not yet experienced a significant price surge.
Additionally, strong buying pressure emerged at a key support zone, making the $3,000 level a thick defense line for Ethereum, backed by institutions and large players.
Since then, Ethereum has been moving in a range, consolidating within a triangle. If Bitcoin manages to ride another upcycle, Ethereum could be undervalued. As the top coin rises, the second coin tends to follow suit.
Therefore, I plan to buy and accumulate Ethereum around the $3,000 level."