#UpsidePotential

[basechop]

Ethereum Price Analysis: Surge Towards $4000 Imminent

Ethereum's price is breaking above the $3550 resistance level, closely following Bitcoin's lead and potentially targeting the $4000 resistance zone soon. Ethereum Initiates a Fresh Rally Ethereum's price surge persists above the $3500 mark, mirroring Bitcoin's upward momentum. BTC surged and surpassed the $68,000 level. ETH exhibits signs of strength, climbing above $3650. A significant move above $3700 has occurred, marking a new multi-month high at $3715. Currently, the price is consolidating gains, trading above the 23.6% Fibonacci retracement level. Ethereum is currently trading above $3650 and the 100-hour simple moving average. On the hourly ETH/USD chart, a bullish trend line is forming with support near $3600, closely aligning with the 50% Fibonacci retracement level. Resistance Levels and Potential Upside Immediate resistance to the upside lies near $3720, followed by significant levels at $3780 and $3850. A break above $3850 could fuel bullish momentum, possibly targeting $3920 next. If Ethereum moves above the $3920 resistance, it could even rally towards $4000, potentially requiring a test of $4200 for further upside. Downside Correction for Ethereum? Failure to overcome the $3720 resistance might trigger a downside correction. Initial support is near $3650, followed by the $3600 zone and the bullish trend line. A significant support zone lies near $3550, with further losses possibly extending to $3420 and $3350. Technical Indicators - Hourly MACD: The MACD for ETH/USD is gaining momentum in the bullish zone. - Hourly RSI: The RSI for ETH/USD is currently above the 50 level. Key Levels - Primary Support: $3600 - Primary Resistance: $3720 Read the full article

[nithurdp]

First Trade | Potential UPSIDE in Natural Gas Market | Short-Term Outlook

As the natural gas market opens for the first trade, traders are eyeing potential UPSIDE opportunities in the short-term outlook. Recent market analysis indicates an increase in demand for natural gas due to extreme weather conditions in certain regions, leading to higher consumption for cooling and electricity generation purposes. This surge in demand has driven up prices and created a bullish sentiment in the market. Additionally, supply constraints and disruptions in production have further supported the upward momentum. Traders are closely monitoring weather forecasts, production levels, and inventory data to gauge the short-term direction of the natural gas market. As uncertainty persists, they are prepared to act swiftly and capitalize on potential price movements.