ETH/USDT: Preparing for a late Rocket Launch?
Ethereum is in a phase of uncertainty despite Vitalik Buterin's bullish tone on X. While sentiment among large investors shows anger, we’re here to check the facts instead of entertaining rumors. Let’s dive into the technicals:
📊 Weekly Chart Analysis:
Doji Formation:
The weekly chart is printing a doji candle, a classic signal of indecision. However, when appearing after a period of decline or consolidation, it usually indicates a potential trend reversal. This tells us that the market may be prepring up for a breakout.
Golden Pocket Zone:
ETH is currently hovering around the golden pocket (0.618-0.65 Fib) on the weekly timeframe. This zone is usually considered anamazon prime area for reversals. Why? Because it attracts buyers. Reclaiming and holding this zone could come as a launchpad for higher highs.
RSI at 50 Zone:
The RSI is sitting around 50, a neutral level that often comes before strong directional moves. We have low propability for a drop, as we are getting into bulls market.
A bounce off this level typically signals renewed bullish interest, especially if it comes together with a key support zone like the golden pocket.
📈 Price Expectations:
Once ETH confirms strength, I expect a move toward the previous ATH at $4,868, which is a natural magnet for price action. Simillar move we saw this week for XRP.
Beyond that, the 1.618 Fib extension at $7,850 is a next target, especially if Ethereum is considered next altcoin with its dominance, therefore investor and retail confidence rises.
💡 Summary:
ETH is showing promising technical signs for a potential reversal, with the golden pocket and doji formation signaling bullish sentiment. While patience is needed, the setup suggests ETH could not only touch its ATH but also make a new highs this season. All eyes are on the golden pocket zone as the critical pivot point for Ethereum's next move.
Previous highs were just a warm-up; the best could still be ahead! 🌟
📊 Weekly Chart Analysis:
Doji Formation:
The weekly chart is printing a doji candle, a classic signal of indecision. However, when appearing after a period of decline or consolidation, it usually indicates a potential trend reversal. This tells us that the market may be prepring up for a breakout.
Golden Pocket Zone:
ETH is currently hovering around the golden pocket (0.618-0.65 Fib) on the weekly timeframe. This zone is usually considered an
RSI at 50 Zone:
The RSI is sitting around 50, a neutral level that often comes before strong directional moves. We have low propability for a drop, as we are getting into bulls market.
A bounce off this level typically signals renewed bullish interest, especially if it comes together with a key support zone like the golden pocket.
📈 Price Expectations:
Once ETH confirms strength, I expect a move toward the previous ATH at $4,868, which is a natural magnet for price action. Simillar move we saw this week for XRP.
Beyond that, the 1.618 Fib extension at $7,850 is a next target, especially if Ethereum is considered next altcoin with its dominance, therefore investor and retail confidence rises.
💡 Summary:
ETH is showing promising technical signs for a potential reversal, with the golden pocket and doji formation signaling bullish sentiment. While patience is needed, the setup suggests ETH could not only touch its ATH but also make a new highs this season. All eyes are on the golden pocket zone as the critical pivot point for Ethereum's next move.
Previous highs were just a warm-up; the best could still be ahead! 🌟
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