Ethereum - Relief uptrend, the bulls are stepping in!

  • The bulls are ready to step in. They are waiting very patiently to enter the market for an upcoming uptrend! 
  • I think this huge downtrend on the 4h chart is over and we need to go up now, because nothing moves in a straight line like Luna. 
  • I see a lot of indicators on the stock market and also on other altcoins that the bulls are gaining strength temporarily. 
  • But I think this will be just a relief rally before a continuation to the downside in the direction of the major bear market. 
  • On the 4h chart we can spot a nice descending channel and the price is currently breaking out! I expect 0.618 FIB and the previous breakout level to be strong resistances where the bears will appear again. 
  • According to my Elliott Wave analysis, we have finished the strong impulse wave to the downside and we are now looking for an ABC retracement. 
  • Also, the price is consolidating in a symmetrical triangle and we are very close to a breakout, so place your orders if you trade Ethereum.
  • For more analysis, hit "Like" and "Follow"!
Beyond Technical AnalysisDescending ChannelETHBTCETHUSDETHUSDTFalling WedgeFibonacci RetracementFundamental AnalysisSupport and ResistanceSymmetrical TriangleTrend Line BreakZigzag

Related publications

Disclaimer