Ethereum just hit our $556 monthly resistance TP, where is the price going to next?
For some reason this time going up feels a little different, where as before the price kept rejecting off of this $470 3-year valley but this time we’ve finally broken through it with some great momentum as well as Bitcoin is finally hovering around its previous ATH price. Having a bit of troubles finding enough momentum trying to break through the ATH but it’s coming very soon.
ETH hit $470, $498, and $556 TP all within a 3-day period. Now it is breaking through the $556 resistance level, looking to go long beyond $600 to the $687 weekly resistance level.
Honestly though, the next real level of resistance that I think we’re going to heavily reject off of is around $800, that has the same effects of the valley closure of the likes of $470.
Anyways, this is the daily chart and looking from the start of the bull run on July 21st, the price has continuously been increasing in price as well as we’ve seen a first touch rejection already in the start of September off of $470 back down to $316. The $316 monthly support level was confirmation that the trend is still bullish and from there it took 2 months but finally found a clean close over $470. From here, ETH has so much momentum to fly higher beyond $470, its already tapped 2 TP’s and looks like it’s on its way much higher.
A daily candle close above $556 would send the price all the way to $687. If we don’t close over $556 I expect the price to consolidate a bit even dump back down to retest some levels.
Long Targets
TP1 🎯 $600
TP2 🎯 $687.15
As always please do your own research, I am not a financial advisor.
For some reason this time going up feels a little different, where as before the price kept rejecting off of this $470 3-year valley but this time we’ve finally broken through it with some great momentum as well as Bitcoin is finally hovering around its previous ATH price. Having a bit of troubles finding enough momentum trying to break through the ATH but it’s coming very soon.
ETH hit $470, $498, and $556 TP all within a 3-day period. Now it is breaking through the $556 resistance level, looking to go long beyond $600 to the $687 weekly resistance level.
Honestly though, the next real level of resistance that I think we’re going to heavily reject off of is around $800, that has the same effects of the valley closure of the likes of $470.
Anyways, this is the daily chart and looking from the start of the bull run on July 21st, the price has continuously been increasing in price as well as we’ve seen a first touch rejection already in the start of September off of $470 back down to $316. The $316 monthly support level was confirmation that the trend is still bullish and from there it took 2 months but finally found a clean close over $470. From here, ETH has so much momentum to fly higher beyond $470, its already tapped 2 TP’s and looks like it’s on its way much higher.
A daily candle close above $556 would send the price all the way to $687. If we don’t close over $556 I expect the price to consolidate a bit even dump back down to retest some levels.
Long Targets
TP1 🎯 $600
TP2 🎯 $687.15
As always please do your own research, I am not a financial advisor.
