CountOnCrypto - Ethereum Forecast - 22/02/2021

Good morning Earth, today we are looking at a possible re-test of the previous high at $1882 for Ethereum. After an approximate drop in price from the top of 13.5%.

I am expecting this to happen around 2:30 pm UK time when America wakes up, my thoughts are that we will form a double top pattern around $1936 in the next few days and then re-test the previous all-time-high at $1882 again before continuing and breaking to the upside of the ascending channel. With regards to Fibonacci retracement levels, I based my long entry on dollar-cost averaging from the .786 at $1833 and .618 at $1794.


All-in-all I am looking for an indicator reset on the higher timeframes, this is going to be key to the continuation of the bullish uptrend. New money always enters the market when the price goes down which leads to further gain.

As per, please use risk management when trading and do your own research before risking any of your money on the market. You can learn to trade for free online with some initiative and an Internet connection!

Comment:

25% drop to my green horizontal line at $1525