ETH 242 Day Cycle - Historical Repeat of 2017? Target $5900
Updated
In 2017 Ethereum experienced a rally lasting 242 days for 1400% growth.
It appears we are repeating a similar rally and using that same timeframe and growth percentage, our target is around $5900 ending around July 1st, 2021.
After July 1st, 2021, within the first 10 days, we'll likely see a retrace to the 61.8 Fib.
After July 10th, 2021, a short rise for 10 days.
Then July 20th, 2021 until Aug 3rd, 2021, another drop to the 32% Fib level before slowly dying over the next 242 days to around $850.
It appears we are repeating a similar rally and using that same timeframe and growth percentage, our target is around $5900 ending around July 1st, 2021.
After July 1st, 2021, within the first 10 days, we'll likely see a retrace to the 61.8 Fib.
After July 10th, 2021, a short rise for 10 days.
Then July 20th, 2021 until Aug 3rd, 2021, another drop to the 32% Fib level before slowly dying over the next 242 days to around $850.
Note
This is the previous cycle in 2017 I'm basing this analysis on. It's based purely upon ETH historicals and does not consider the current BTC cycle.
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.