WHAT LIES ABOVE 4869.47The value 4869.47 is the current price top in Ethereum Market.
48xx has long been a price level that has haunted bull campaigns across several markets.
We will take few examples to illustrate what it is.
1. The first is SP-500 top in 2022 at 4816.86, there was also the first top at 1576, the same two tops we have in Ethereum.
The are two significant points after the 2022 top:
First is the 3489.0 major bottom from 4816.86
Second is the 4104.4 bottom the commenced the current advance
The 4104 level which was a top in ethereum is a bottom in SP-500 and all points are relative to 1540
The significant points in SPX are:
1578.5
3489.0
4104.4
4816.6
The similar points in Ethereum are:
1540.01
3466.06 (current level)
4106.69
4869.47
2. NASDAQ - 100 made a top at 4781.19 in March 2000, the Dotcom bubble that took over 80% of the value of the tech heavy index
The second top before the major decline was the same 5/3 expansion level at 4089.04
Notice that the (+1540) top in Nasdaq occurred at 1485.97 and so subsequent levels are also lower.
The (3466 / 3489) level in Nasdaq there but needs further discussion which is not our interest for today
3. The 2015/2016 low in DJIA is one of the most important levels after its counterpart in June 1949. Using a log scale of x10 we have the same +1540 levels
We have the 34890 points being the zone where the 2022 top trended within, that means we have other points ahead which we can project but again that's not our discussion
There are also time resistances of 4667/4747 days, 483.0 weeks and 483.x months effecting major trend changes
There are a lot of price and time examples we can illustrate to show the importance of the 48xx units measurement across several markets.
Now Ethereum... what is above 4869.47 in case we break the top
will leave it to readers to investigate further.
Check back for updates.
