Ethereum is going for $2.8K because of the inverted H&S pattern and its showing weakness and it failed to break the resistance. However, it's in a long-term trend that won't be broken, at least not yet, but we will have to see. It may take weeks for Ethereum to reach there, in my opinion. Until then, we can enjoy scalping.
Note that the
4K resistance is the only resistance stopping Ethereum from reaching new highs, so it won't be easily broken, at least until we see good news from Trump. We might see $6K-$7K Ethereum in 5-6 months, so that is my opinion.
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And what I expect afterward:
If Ethereum breaks and holds $6K, we can see new highs. If that happens, the following scenario is invalidated:
If bulls fail to hold $6K-$7K, we might see a big W pattern, and Ethereum will then say goodbye to these prices after it's completed. So then $6K would be temporary and won’t last long if this scenario plays out, that also means the alt season and all that can be postponed until 2027.
Again, IT'S A POSSIBILITY.
Note that the
4K resistance is the only resistance stopping Ethereum from reaching new highs, so it won't be easily broken, at least until we see good news from Trump. We might see $6K-$7K Ethereum in 5-6 months, so that is my opinion.---
And what I expect afterward:
If Ethereum breaks and holds $6K, we can see new highs. If that happens, the following scenario is invalidated:
If bulls fail to hold $6K-$7K, we might see a big W pattern, and Ethereum will then say goodbye to these prices after it's completed. So then $6K would be temporary and won’t last long if this scenario plays out, that also means the alt season and all that can be postponed until 2027.
Again, IT'S A POSSIBILITY.
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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.