ETHIf $881 was the bottom for #ETH, everyone who are looking for $500 to long ETH will be buying
ETH much higher. Mid Term scenario:
Provided
ETH stays above $1248, we will surely see a move towards $1788. If we claim $1788 and flip it to support, ETH charts extended fib indicate a move towards:$1838, $1976, $2171, $2420, $3139 and $4303.
This move will be surprisingly fast.
If DEC Interest rates increment slows down to 50bps and shows signs of further narrowing, we could see these levels by Q1 2023.
What happens long term with ETH price?
As we approach the Shanghai Upgrade and EIP 4895 gets effective, we may see a small sell off as beacan chain stakers of ETH will now be able to unstake ETH gradually. That also coincides with the impeding recession fear.
Both combined.
ETH might retest today's levels towards the Shanghai Upgrade in 2023. Once that is through, they real bull run in ETH will be begin. EIP 4844 allows proto-danksharding. This proposal will enable data processing on network and thereby reducing gas fees.
By this time,
ETH also starts getting deflationary and the deficit between new ETH and Burned ETH keeps increasing thereby increasing the coefficient in the decrease of supply curve . Rapid drop in ETH supply = Rapid increase in price. 
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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.