$ETHUSDT Analysis - Oct 6 | 4H Time Frame

ETHUSDT Analysis - 4H

Hello and welcome to another analysis from the Satoshi Frame team!
I’m Abolfazl, and today we’re going to analyze Ethereum on the 4-hour timeframe.

As you know, USDT dominance has been trending downward, and the overall market structure is bullish. On the other hand, Bitcoin has set a new all-time high! Considering these factors, it’s clear that Ethereum also has the potential to move toward $5,000, which isn’t unrealistic.
From another perspective, Ethereum has shown a change of character (CHOCH) on the 4-hour timeframe, and the marked supply zone could create a pullback in price.
When the price reaches the supply zone, make sure to look for proper entry confirmations, and keep in mind that there’s a higher chance of the zone being broken and I’m personally looking for long positions.

See you in the next analyses!
Stay tuned with the Satoshi Frame team...