Bitcoin and Ethereum have been going back and forth in one color for months, but they are now nearing the end of the road. However, the Bitcoin Volatility chart is also circulating at all-time lows, considering this detail, we can assume that we expect big volatile movements soon.
If we first consider the ETH/USD chart on a daily basis, starting on November 22; We see an upward trend that continues to the present day. As the current ETH/USD chart is pretty neutral, we have to pay attention to the level of accumulation so that we can determine a clear direction. Whichever direction it takes from the accumulation line (1850-1780), the market will move in that direction in the coming times. If 1780 support is lost, I think the ETH/USD side will remain negative for a long time and of course all cryptocurrencies will follow negatively.
Looking at the weekly chart of ETH/USD with the help of Ichimoku, we see that it is above the support and if it can get a reaction from here, it can rise to the level of 2218. The only thing we need to pay attention to right now is the level of accumulation. If 1780 is lost, we can see a drop to 1550 levels, but if 1850 resistance is gained, it will target 1950 and if it wins there, it can target 2210.
On the BTC/USD side, daily and weekly support is 28.2, which is not only trend support but also weekly kijun-tenkan and daily kuma support. On the Bitcoin side, the weekly support is really strong and if it gets a strong reaction from here, it is possible that it will test the 31.8k levels again, but if it does not get a reaction and loses the 28.2 level, I will be waiting for a long-term negative on this side. It can test the 25.7 levels first, but let me reiterate that the 28.2 support is really strong.
Thanks for reading and good luck!
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