ETH on the verge of ATHs
Updated
Ethereum finally refills the long expected gap from $200-$400
- Resistance at $400 is very strong, as two times in its lifetime rejected violently
BULL targets differing on the meaning of significance:
- TECHNICAL (May/June follow up) = $700
- PSYCHOLOGICAL (all time follow) = $800 (200% fib)
(The width of the target bars shall not be seen as time periods to take - ETH will most probably take longer to take these)
(Small) BEAR correction possible:
- What we are missing is a well formed related cup handle, that would add credence to the potential rally, as also we missed out similar cup-end formation with the mid-OCT $350 fakeout
- Play out would mark the red angle
- Rebuys in the $330-$350's entirely possible
A direct BULL up here from $400 would most probably fail at max $500 (macro 127% / recent 161% fib trace), as also of overbought conditions to play out immediately
- Resistance at $400 is very strong, as two times in its lifetime rejected violently
BULL targets differing on the meaning of significance:
- TECHNICAL (May/June follow up) = $700
- PSYCHOLOGICAL (all time follow) = $800 (200% fib)
(The width of the target bars shall not be seen as time periods to take - ETH will most probably take longer to take these)
(Small) BEAR correction possible:
- What we are missing is a well formed related cup handle, that would add credence to the potential rally, as also we missed out similar cup-end formation with the mid-OCT $350 fakeout
- Play out would mark the red angle
- Rebuys in the $330-$350's entirely possible
A direct BULL up here from $400 would most probably fail at max $500 (macro 127% / recent 161% fib trace), as also of overbought conditions to play out immediately
Note
Right BULL up -> $500 fail ($491)
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