Ethereum's game changer moment 1.1.2023March 2020 to Jan 2023 support trend-line confirmed recently with another bounce of higher lows.
Highlighted on chart previous times we've had the support tested since March 2020, rally which followed was aggressive and substantial.
1) August 2020 to April 2021 - $4,054 gain per coin, 1012% increase.
2) June to August 2022 - $1,100 gain per coin, 120% increase.
3) October to November 2022 - $588 gain per coin, 53% increase.
Most recently support was tested December 20th and since gained about $50 per coin from the low, confirming the big picture support to be relevant.
Connecting highs since the ATH November 2021 at $4,800 per coin show resistance to be around $1,426.
Connecting lows since the low of $93 per coin back March 2020 show support to be around $1,050.
The pattern which is formed is a big triangle consolidation of 3 years - Price currently trades very close to the apex and there could be a breakout above or below mentioned levels within the next quarter.
In my opinion, there's higher potential is for a break up considering higher lows were kept for the entire 3 year period, even through the panic selling caused by FTX and other industry shacking events.
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I encourage you to do your own research, make your own judgement and take cautious decisions keeping in mind trading is speculative and can be unpredictable.
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