EthereumLong
$2,000 ETH?
Last week's breakout saw Ether close in on the $1,800 target before the futures contracts launch. However, ETH achieved a new record high at $1,765 before a correction took precedence. As the uptrend rebuilds again, Ethereum seems to have the potential to hit new all-time highs above $2,000.
As you can see, ETH/USD broke the ascending channel last week with 5 waves up constituting wave 3 reaching $1,765. But what's more interesting is that ETH retested the previous wave IV of wave 3 with its 4th wave and now we are waiting for its 5th wave to form and reach the 100% Fibonacci Extension level ($1,947). A break above the $2,000 psychological level could push ETH to soar and possibly reach the 161.8% Fibonacci level at $2,244.
As you can see, ETH/USD broke the ascending channel last week with 5 waves up constituting wave 3 reaching $1,765. But what's more interesting is that ETH retested the previous wave IV of wave 3 with its 4th wave and now we are waiting for its 5th wave to form and reach the 100% Fibonacci Extension level ($1,947). A break above the $2,000 psychological level could push ETH to soar and possibly reach the 161.8% Fibonacci level at $2,244.
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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.