In the lead up to its all time high near $1400 in January 2018, ETH had a long parabolic run (red line) followed by a consolidation (green circle) and ended in anther parabolic run of about the same angle trajectory (orange line). Then it made a perfect arc in the bear market of 2018-2019 and the current bull market. Now, in December 2021, it looks to be reaching the end of a long consolidation, marked by another green circle.
If the market indeed rallies from here, for ETH to complete this pattern prior to the next major correction and consolidation period, it goes to about $18,000.
This is also almost exactly in line with ETH following the 2017 bull run of BTC.
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If the market indeed rallies from here, for ETH to complete this pattern prior to the next major correction and consolidation period, it goes to about $18,000.
This is also almost exactly in line with ETH following the 2017 bull run of BTC.
If you enjoy this analysis, leave a like or comment and follow me. It let's me know to continue sharing my ideas.
And don't forget to enjoy your day, make the best of this life we get to live on this incredible planet.