ETH Technical Analysis: Next Opportunity for ETH

Market Overview on March 5

Today, on March 5, Bitcoin (BTC) is showing signs of recovery after forming a bottom on the H4 timeframe. At the same time, BTC is holding the Flip zone on the H1 timeframe, indicating strong buying pressure. According to analysis, BTC is likely to retrace to the Fair Value Gap (FVG) on D1, around $95K – $96K, before a strong bearish signal appears.

With BTC’s price action, Ethereum (ETH) is also expected to see a recovery, presenting a potential trading opportunity for investors.

ETH Technical Analysis: Key Entry Points

Based on BTC’s price movements, ETH is expected to recover similarly, with key price levels as follows:

• Entry: $2,113

• Stop Loss: $1,980

• Take Profit: $2,550 (H2 high)

Detailed Analysis

1. H4 Timeframe: ETH is forming an accumulation structure with strong support around $2,000 – $2,050, where buyers could step in.

2. H1 Timeframe: ETH has not broken the key Flip zone, indicating that the short-term uptrend remains valid.

3. Risk: If ETH loses the $1,980 support level, the price could decline further, making a Stop Loss essential.

Trading Strategy

Investors may consider a Buy Limit strategy at $2,113, expecting ETH to recover toward $2,550 following BTC’s retracement. However, closely monitoring BTC’s movements is crucial, as a breakdown of BTC’s support could pressure ETH downward.

Important Notes:

• Observe price action at $2,113 to confirm a reversal signal.

• If BTC breaks below its key structure, ETH might lose support and fail to reach the Take Profit target.

Conclusion

With BTC’s recovery signals, ETH could take advantage of this momentum and rise toward $2,113 before facing stronger volatility. Traders should follow risk management strategies and keep an eye on market developments to make informed decisions.