The comparison between Micro Gold Futures (MGC1!) and Ethereum (ETHUSDT) on the weekly timeframe suggests that Ethereum could be mirroring gold’s price structure before its parabolic breakout.
Key Similarities Between Gold & Ethereum:
Impulse Leg Formation 🔥
Both assets formed a strong impulse leg after a significant low.
The Ethereum impulse leg started from the ~$1,530 low, pushing toward ~$4,000 before retracing into accumulation.
Gold followed a similar pattern, forming a strong rally before consolidation.
Accumulation Range
Both charts show a clear accumulation phase after the impulse leg.
Gold accumulated sideways for an extended period before exploding to the upside.
Ethereum is currently within its accumulation range, suggesting that it could be preparing for a similar breakout.
This is a shakeout phase designed to trap weak hands before the real move.
Standard Deviation Extensions (STDVN) & Key Levels 🎯
Both charts use standard deviation extensions (STDVN) to project potential short-term targets.
0.5 STDVN & 1 STDVN levels are crucial areas where price could react.
Gold blasted through these levels after breaking out of accumulation.
If Ethereum follows suit, 5,288 (0.5 STDVN) and 6,605 (1 STDVN) could be in play.
Previous Highs Acting as Support/Resistance
Gold broke past its old high, retested, and surged.
Ethereum is still hovering below its previous major high (~4,800).
If Ethereum flips this level into support, it could send price into price discovery mode.
What This Means for Ethereum 🚀
Gold already showed the path—Ethereum is lagging but setting up similarly.
Volatility is part of the process—shakeouts happen before the breakout.
Holding ETH through this phase could be crucial if history repeats itself.
A breakout beyond the accumulation range could send ETH towards $5,200 - $6,600+ in the short term.
Beyond 1 STDVN, ETH enters uncharted territory—an all-time high breakout could be explosive.
Final Thoughts from Lord MEDZ 👑
Not financial advice, but I’m holding ETH through the chop. The last shakeout before an all-time high run is often the toughest. But the chart comparison is clear: Gold did it first. Ethereum could be next.
🔥 Patience. Conviction. Execution. 🔥
Key Similarities Between Gold & Ethereum:
Impulse Leg Formation 🔥
Both assets formed a strong impulse leg after a significant low.
The Ethereum impulse leg started from the ~$1,530 low, pushing toward ~$4,000 before retracing into accumulation.
Gold followed a similar pattern, forming a strong rally before consolidation.
Accumulation Range
Both charts show a clear accumulation phase after the impulse leg.
Gold accumulated sideways for an extended period before exploding to the upside.
Ethereum is currently within its accumulation range, suggesting that it could be preparing for a similar breakout.
This is a shakeout phase designed to trap weak hands before the real move.
Standard Deviation Extensions (STDVN) & Key Levels 🎯
Both charts use standard deviation extensions (STDVN) to project potential short-term targets.
0.5 STDVN & 1 STDVN levels are crucial areas where price could react.
Gold blasted through these levels after breaking out of accumulation.
If Ethereum follows suit, 5,288 (0.5 STDVN) and 6,605 (1 STDVN) could be in play.
Previous Highs Acting as Support/Resistance
Gold broke past its old high, retested, and surged.
Ethereum is still hovering below its previous major high (~4,800).
If Ethereum flips this level into support, it could send price into price discovery mode.
What This Means for Ethereum 🚀
Gold already showed the path—Ethereum is lagging but setting up similarly.
Volatility is part of the process—shakeouts happen before the breakout.
Holding ETH through this phase could be crucial if history repeats itself.
A breakout beyond the accumulation range could send ETH towards $5,200 - $6,600+ in the short term.
Beyond 1 STDVN, ETH enters uncharted territory—an all-time high breakout could be explosive.
Final Thoughts from Lord MEDZ 👑
Not financial advice, but I’m holding ETH through the chop. The last shakeout before an all-time high run is often the toughest. But the chart comparison is clear: Gold did it first. Ethereum could be next.
🔥 Patience. Conviction. Execution. 🔥
Lord MEDZ
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.
Lord MEDZ
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.