There's been a lot of discussion lately on where ETH price might go and, mostly the news I saw, where super bearish on it.
I remember seeing a chart where Hedge Funds where MEGA bearish on it based on Trump news of some sort, however these data was not lying and indeed Hedge funds had the most COT bearish data ever recorded (2024 Xmas), thus the price suffered a great decline since.
Now the picture has change dramaticaly; technicals + recent COT are pointing to a MELT UP that can happen from March.
Ethereum present us a clear 1, 2, 3, 4 (we're here), 5 - Elliot Wave Count, where we are now in an extended corrective ABCDE pattern ready to blow up with Monthly Demand level, which we are currenly testing.
From COT readings, we can see Fund Managers going from -4.250 net positions, to 2095 net positions, meaning that they went from MEGA bearish to VERY bullish in a short period of time.
Conclusion, I see a MELT UP incoming in the next months of 2025.
I remember seeing a chart where Hedge Funds where MEGA bearish on it based on Trump news of some sort, however these data was not lying and indeed Hedge funds had the most COT bearish data ever recorded (2024 Xmas), thus the price suffered a great decline since.
Now the picture has change dramaticaly; technicals + recent COT are pointing to a MELT UP that can happen from March.
Ethereum present us a clear 1, 2, 3, 4 (we're here), 5 - Elliot Wave Count, where we are now in an extended corrective ABCDE pattern ready to blow up with Monthly Demand level, which we are currenly testing.
From COT readings, we can see Fund Managers going from -4.250 net positions, to 2095 net positions, meaning that they went from MEGA bearish to VERY bullish in a short period of time.
Conclusion, I see a MELT UP incoming in the next months of 2025.
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.