🔅The Triple Bottom Formation at $1533 📈
In the world of cryptocurrency, precision matters. Ethereum (ETH), one of the market leaders, recently exhibited a fascinating triple bottom pattern, signaling that buyers defended the $1533 support level - an interesting entry point. This level coincides with the 78.6% Fibonacci support, adding significance to its resilience.
🔅The Long-Term Resistance Breakout
ETH isn't stopping there. It previously shattered a long-term resistance, demonstrating the strength of the bulls. A significant factor in favor of an uptrend, this development marks the beginning of Ethereum's journey towards higher price levels.
🔅ABC Pattern Potential
Furthermore, Ethereum seems to be forming an ABC pattern, often associated with a trend reversal. This pattern adds another layer of evidence to our bullish thesis. As the potential C wave unfolds, it could propel Ethereum further upwards.
🔅Demand Zone
Observe the recent transformation of a supply zone into a demand zone. This area has been a pivot for price action throughout the week, affirming the growing interest from buyers. These zones act as battlegrounds, and Ethereum seems to have gained a strong foothold in the demand zone.
🔅Anticipating a 70% Rally 🚀
Considering the solid foundation provided by the triple bottom, the long-term resistance breakout, the potential ABC pattern, and the resilient demand zone, Ethereum is poised for growth. We anticipate a substantial 70% price increase, setting sights on the 161.8% Fibonacci retracement level at $2620.
In the world of cryptocurrency, precision matters. Ethereum (ETH), one of the market leaders, recently exhibited a fascinating triple bottom pattern, signaling that buyers defended the $1533 support level - an interesting entry point. This level coincides with the 78.6% Fibonacci support, adding significance to its resilience.
🔅The Long-Term Resistance Breakout
ETH isn't stopping there. It previously shattered a long-term resistance, demonstrating the strength of the bulls. A significant factor in favor of an uptrend, this development marks the beginning of Ethereum's journey towards higher price levels.
🔅ABC Pattern Potential
Furthermore, Ethereum seems to be forming an ABC pattern, often associated with a trend reversal. This pattern adds another layer of evidence to our bullish thesis. As the potential C wave unfolds, it could propel Ethereum further upwards.
🔅Demand Zone
Observe the recent transformation of a supply zone into a demand zone. This area has been a pivot for price action throughout the week, affirming the growing interest from buyers. These zones act as battlegrounds, and Ethereum seems to have gained a strong foothold in the demand zone.
🔅Anticipating a 70% Rally 🚀
Considering the solid foundation provided by the triple bottom, the long-term resistance breakout, the potential ABC pattern, and the resilient demand zone, Ethereum is poised for growth. We anticipate a substantial 70% price increase, setting sights on the 161.8% Fibonacci retracement level at $2620.
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Fixing profit on 50% gain
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.