Is Ethereum Heading to New Highs?
![BITmarkets | Is Ethereum Heading to New Highs?](https://wcms-cdn.bitmarkets.com/3819/Eth1.jpg)
Ethereum (ETH) jumped more than 15% in the month, driven by rejuvenated sentiment surrounding the future of cryptocurrencies and their appeal as investment assets.
Sooner rather than later, ETH may re-visit its all-time highs achieved in late 2021 as the 'mother' of all cryptocurrencies has enjoyed significant buying pressure.
ETHUSD - 1 Week Time Frame
Examining the weekly time frame, it's evident that the price closely adheres to the Buy-side Imbalance and Sell-side Inefficiency (BISI) identified in April 2022.
This area coincides with the current Fair Value Gap, particularly aligning with the BISI. The targets for potential trading positions are the relatively equal highs, including the all-time high.
However, if the price does not capitalize on these zones of influence, it may undergo a significant correction. This scenario could offer an exceptionally attractive entry point into the market, potentially at a more favorable price than the current level.
ETHUSD - 4 Hour Time Frame
Incorporating insights from various time frames is crucial for thorough technical analysis. On the 4-hour chart, the price has begun a correction phase from its local peak, appearing to have concluded.
This correction is attributed to the interaction with the Sell-side Liquidity zone (SSL). Following this interaction, the price transitioned from a bearish to a bullish trajectory within the Order Block and BISI zone.
These findings support the perspective derived from the weekly time frame. As such, it is reasonable to anticipate a continuation of the bullish trend.
Nevertheless, as with any trading endeavor, there exists the possibility of risk, including the chance that the bearish correction may persist.
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