Short answer? Yes it is.
Ethereum / ETHUSD is trading inside a 7 year Channel Up and lately has found itself under the 0.618 Fibonacci retracement level for the first time since November 2020.
This is technically a temporary overreaction like the bullish breakout over the 0.382 Fib in March 2024.
Based on the final year rallies inside this Channel Up, we can clearly see that, though very optimistic, $14000 is within reach and won't even be at the top of the Channel Up.
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Ethereum / ETHUSD is trading inside a 7 year Channel Up and lately has found itself under the 0.618 Fibonacci retracement level for the first time since November 2020.
This is technically a temporary overreaction like the bullish breakout over the 0.382 Fib in March 2024.
Based on the final year rallies inside this Channel Up, we can clearly see that, though very optimistic, $14000 is within reach and won't even be at the top of the Channel Up.
Follow us, like the idea and leave a comment below!!
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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.
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
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.