Ethereum facing a rally towards $360 and maybe more? Disbelief.
Ethereum (ETH) made a nice new higher low at $120 earlier this year, which was the first time since the whole bearmarket.
Are we out of the bear market? I guess we are.
What do we expect from here? We should be making a wave that’s creating a higher high, just like Bitcoin did with the $14,000 move.
So, what hurdles do we have?
First of all, we’re aiming $220 as significant resistance here. If we flip that level for support, we can aim for $360 as next major resistance.
Whether or not we clear it in one go (or consolidate for a few weeks) doesn’t matter that much, I think we’re breaking it pretty soon. (if hard rejection -> retest $120 is the bearish story)
Going towards $360 would be the next test. Clearing $360 and we aim $500 & $600 -> disbelief.
Will be posting zoomed in charts pretty soon.
Are we out of the bear market? I guess we are.
What do we expect from here? We should be making a wave that’s creating a higher high, just like Bitcoin did with the $14,000 move.
So, what hurdles do we have?
First of all, we’re aiming $220 as significant resistance here. If we flip that level for support, we can aim for $360 as next major resistance.
Whether or not we clear it in one go (or consolidate for a few weeks) doesn’t matter that much, I think we’re breaking it pretty soon. (if hard rejection -> retest $120 is the bearish story)
Going towards $360 would be the next test. Clearing $360 and we aim $500 & $600 -> disbelief.
Will be posting zoomed in charts pretty soon.
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.