Ethereum / ETHUSD is consolidating under the 1day MA200 (resistance) and over the 1day MA50 (support).
The 2025 correction has been quite similar so far to 2016, both bearish Channels bottoming on a Triangle pattern and then rebounding.
In 2017 that rebound resulted in an insane rally above the 3.0 Fibonacci extension.
Even if the market doesn't rise this time this aggressively and that quickly, it can still approach the 3.0 Fib at 10000 and form the top for this Cycle.
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The 2025 correction has been quite similar so far to 2016, both bearish Channels bottoming on a Triangle pattern and then rebounding.
In 2017 that rebound resulted in an insane rally above the 3.0 Fibonacci extension.
Even if the market doesn't rise this time this aggressively and that quickly, it can still approach the 3.0 Fib at 10000 and form the top for this Cycle.
Follow us, like the idea and leave a comment below!!
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TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
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.