(ETHEUR) Ethereum Fractals: €905 or €188?
ETH has broken away from it's 2017 fractal structure, now suggesting a return to the norm of the VPVR point of control around €188 ($221) may be in play. Expect the 150 MA at €274 ($322) to be defended if price falls lower, as well as the old resistance level of the 2-year long resistance trend-line, followed by volume and long-term moving average support within the €181-204 support level ($213-240).
Either way, a 67% retracement from recent higher highs wouldn't be out of the question, as it would still confirm a bullish long-term structure of macro higher highs and higer lows over a 20 month long period. Neither would a 3x from the current level of the 0.618 fib retracement to the 2.618 fib projection.
If price breaks down from the neutral zone, it's also likely that it won't complete the 2019 winter fractal, instead finding long-term support from the VPVR point of control as well as 50 & 100 Week MAs, that represent median prices from the past 1-2 years approximately.
This is no time to be going short imo, only to be eyeing up the dip. October vibes are telling me to be patient before longing any more ether.
Bitcoin dominance continues to consolidate at the lows around 60 in a bearish manner, but ETH remains in no mans land.
Altcoin Speculation Coming Soon...
Altcoin Dominance Eyeing Up A Breakout to 40%
Either way, a 67% retracement from recent higher highs wouldn't be out of the question, as it would still confirm a bullish long-term structure of macro higher highs and higer lows over a 20 month long period. Neither would a 3x from the current level of the 0.618 fib retracement to the 2.618 fib projection.
If price breaks down from the neutral zone, it's also likely that it won't complete the 2019 winter fractal, instead finding long-term support from the VPVR point of control as well as 50 & 100 Week MAs, that represent median prices from the past 1-2 years approximately.
This is no time to be going short imo, only to be eyeing up the dip. October vibes are telling me to be patient before longing any more ether.
Bitcoin dominance continues to consolidate at the lows around 60 in a bearish manner, but ETH remains in no mans land.
Altcoin Speculation Coming Soon...
Altcoin Dominance Eyeing Up A Breakout to 40%
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.