I hope that you understand!
Let's analyze ETH from a cyclical point of view with the "Sine Line". As can be clearly seen, ETH is following a cycle of rises and falls that goes from 6 months to 6 months, proportionally increasing its value.
If we follow Fibonacci and ETH continues to stay true to the cycle we should expect a new high in the $ 5200 area in the medium term (which is very likely given ETH's Marge which will make it much more scalable).
Focusing in a short time we are creating a new channel (yellow), being on weekly TF we will still have to confirm and define the highest high, being only Tuesday, but we can confirm the low at 2500 $ in this channel in the demand pool. .
If we confirm to the upside this week, I personally expect a physiological retracement from $ 3300 to $ 3050, excellent support retested several times and also supported by the 30-period moving average, and then continue to the upside excluding strong bearish news. .
What do you think about it?
Let's analyze ETH from a cyclical point of view with the "Sine Line". As can be clearly seen, ETH is following a cycle of rises and falls that goes from 6 months to 6 months, proportionally increasing its value.
If we follow Fibonacci and ETH continues to stay true to the cycle we should expect a new high in the $ 5200 area in the medium term (which is very likely given ETH's Marge which will make it much more scalable).
Focusing in a short time we are creating a new channel (yellow), being on weekly TF we will still have to confirm and define the highest high, being only Tuesday, but we can confirm the low at 2500 $ in this channel in the demand pool. .
If we confirm to the upside this week, I personally expect a physiological retracement from $ 3300 to $ 3050, excellent support retested several times and also supported by the 30-period moving average, and then continue to the upside excluding strong bearish news. .
What do you think about it?
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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.