Market & Ticker: Ethereum – ETH/USDC 

Date: 05/12/2024 
Horizon / Timing:  Tactical Mid-term / 1 to 3 months 
 

Scenario:  
 
The Ethereum – ETH/USDC exited a wide descending trading range pattern Since March 2024 opening the next long-term potential towards 4840. The recent US result election combining with strong macroeconomic statistic in the US will increase the US rate cut pace with a FED rate decision expected 4% in 2025.  
 
We are now entering in a new cycle where the highest risk asset class will benefit from money flow from low-risk asset class pushing the trend of the US stocks market and Ethereum higher. 

This week ETH held above its support before surpassing 3740 target. A further recovery is expected towards 4180 before 4840 as long as 3300 remains a key support. 
 
NB: ETH remains in under-performance versus BTC however ETH is about to confirm a reversal signal soon ! 

Technical Key Elements: 
 
- Trend line surpassed at 3740 

- RSI indicator at resistance but no divergence 
- The Moving average area support 
- Fibonacci key resistance area at 4180 and support at 3300 
- Elliot wave pattern is bullish with wave (v) in progress 

Trade Idea conclusion: (buy) 

Tactical Bullish target max: 4840 

Tactical target: 4180 

Tactical Pivot support: 3300 

Tactical alternative bearish target: 2990 

Chart: Daily Basis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21) 

Disclaimer: The content of this analysis should not be considered as a study, an investment advice or a recommendation concerning products, strategies or a particular investment opportunity. This content is strictly for illustrative, educational or informational purposes and is subject to change. Investors should not base their investment decision on the content of this site and are strongly recommended to seek independent financial advice for any investment they are considering.