Many of you inbox ask about long wave ETH, I would like to send you chart analysis ETH / BTC on the Bitfinex trading platform.
In the 1D timeframe, our view is that ETH is in the first downtrend of the medium-term downtrend, which will end with the support around 39-40.
In this cycle, ETH has a wave up, our target price is 91. If this price zone formed enough waves in the H4, we will lock here. The price is quite sensitive, over time the target ETH will return to the price range of 13 - 14, approximately equal the peak of the last wave of ETH
The second drop will occur after ETH completes the trend, which will extend and deepen, and ETH can lose up to 70% of its value. We will mark the area at 28, even if the price zone 10 is still within reach if correction is made
At a larger time frame with hyper cycles, ETH is correcting to the 10-28 zone and popping up with a very large rebound, possibly reaching the target range 410 - 610, we estimate in this wave area, ETH It is possible to reach $ 5000 to $ 8000
We would also like to receive more feeback from you, do not forget to like and share if you love offline