EthereumLong
ETHUSD breaking above the 4 year Falling Resistance. $8000 eyed!
Ethereum / ETHUSD is attempting a bullish breakout over the Falling Resistance that is in place since the very start of the previous Bear Cycle and the November 08 2021 Top.
A 1week candle close over it, confirms the high probability of a parabolic rally breakout.
Technically based on the time period were in, the October-December rise, is almost the same as the Oct-Dec 2020 Channel Up that followed the August-September consolidation.
This targeted higher than the 5.0 Fibonacci extension.
Technically $8000 (just under the current 5.0 Fib) is a viable target if the 1week candle closes above the Falling Resistance.
Previous chart:
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A 1week candle close over it, confirms the high probability of a parabolic rally breakout.
Technically based on the time period were in, the October-December rise, is almost the same as the Oct-Dec 2020 Channel Up that followed the August-September consolidation.
This targeted higher than the 5.0 Fibonacci extension.
Technically $8000 (just under the current 5.0 Fib) is a viable target if the 1week candle closes above the Falling Resistance.
Previous chart:
Follow us, like the idea and leave a comment below!!
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