ETHUSD long term projection
In this simple chart we have a lot of possibility about what will happen to Ethereum, and I will try to explain it part by part.
BULLISH UN-PARALLEL CHANNEL UP (blue)
This is the biggest pattern at ETHUSD has performed since 06 june 2022 and still not broken yet.
This pattern bullish target at channel up resistance around $2300, but to reach that target Ethereum need to break channel down resistance as bullish confirmation.
BULLISH FIBONACCI 1.618 (black)
Our second bullish pattern is fibonacci 1.618
this pattern has performed since December 2022, and retrace to 0.618 last week with a bullish target at $2524.
CHANNEL DOWN BEARISH PATTERN (red)
This week, we have a great bullish, but failed to break channel down resistance.
If this resistance cannot break up, bearish will continue with target $1516 as fibonacci support or around $1400 at channel down support
Are you bullish or bearish?
let me know at comment below
I will update more about ETH if I found a strong pattern to perform.
Don't forget to like this analysis,
Happy trading, bye.
BULLISH UN-PARALLEL CHANNEL UP (blue)
This is the biggest pattern at ETHUSD has performed since 06 june 2022 and still not broken yet.
This pattern bullish target at channel up resistance around $2300, but to reach that target Ethereum need to break channel down resistance as bullish confirmation.
BULLISH FIBONACCI 1.618 (black)
Our second bullish pattern is fibonacci 1.618
this pattern has performed since December 2022, and retrace to 0.618 last week with a bullish target at $2524.
CHANNEL DOWN BEARISH PATTERN (red)
This week, we have a great bullish, but failed to break channel down resistance.
If this resistance cannot break up, bearish will continue with target $1516 as fibonacci support or around $1400 at channel down support
Are you bullish or bearish?
let me know at comment below
I will update more about ETH if I found a strong pattern to perform.
Don't forget to like this analysis,
Happy trading, bye.
Trade active
new buy zone for ETHUSD
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.
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.