ETH New ATH & Price Discovery!!Ethereum is continuing to run in beast mode almost making new ATH's everyday, we are still travelling up and respecting our ascending channel as we are once again pushing that 0 FIB or our ATH! We could be considered in price discovery mode right now but i think with some big momentum we could be blasting off to go on a huge run to the upside, facing currently no resistance levels once we break above our ATH! We have a bunch of very solid support levels underneath us with the bottom of the ascending channel aswell as uptrend support inside the ascending channel we got the R1 Level which is now support and then aswell as the midline coming from the bollinger bands, if we do see a couple down days i really don't expect us to go very far. Now something else very interesting with the bollinger bands is our price action is currently sitting directly ontop of the top band, and now we haven't seen an explosive climb up this band yet in this ascending channel we could be looking at a mega one coming up soon, our daily close is looking like we will close directly ontop of this band which is always a very very good sign and could send us flying to the upside, plus pair that with our current situation of being in price discovery mode and having little to no resistance above us.. seems like a recipe for a massive run up coming soon! Now the MACD is starting to look good, we have been seeing lots of tight movement from the MA's with a flat histogram but we could be getting ready for another bullish MACD cycle, we are yet to create a bearish cross and if you actually look at the histogram starting from the verticle line i drew we are seeing something very positive, a daily increase in our green bars, this is a very good sign and could be signalling the start of another bullish cycle on the MACD, we gotta see this continue though day after day increasing green bars showing a rise in bullish momentum, we can't see a flat histogram or a decreasing one, this would likely result in a bearish cross putting downside pressure on ETH. Now the MA's are starting to show some positive signs, the blue MA is ticking slightly to the upside which is what we wanna see, we gotta see that separation in the MA's lessening the chance of a near term bear cross and allowing for a little downside without triggering a bear cross! Overall no matter what we do in the coming days i am extremely bullish on ETH and altcoins going through this month, also should point out BTC dominance is currently slightly rising putting some pressure on the altcoins but once we see a rejection or a bit of a drop i think the altmarket is going to start exploding with many coins likely too create new ATH's! Not financial advice just my opinion!
