ETHUSD: It is now or never.
Ethereum is marginally bearish on its 1D technical outlook (RSI = 40.248, MACD = -101.950, ADX = 33.304) as it pulled back to the 1W MA200 again, failing to capitalize on August's rebound attempt. If we compare it to its prior Cycle, this is Ethereum's final chance to hold the 1W MA200 and keep step <7> valid, which in September 2020 exactly 4 years ago, it started an outstanding rally to the 1.618 Fibonacci level and cap step <8>.
If the market replicates this move, we can print 13,500 in mid 2025. Compared to the previous Cycle we are currently higher on step <7> than we were then, so unlikely as 13.5k may seem, it is technically plausible.
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If the market replicates this move, we can print 13,500 in mid 2025. Compared to the previous Cycle we are currently higher on step <7> than we were then, so unlikely as 13.5k may seem, it is technically plausible.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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