"Ethereum Price Analysis: Breakout, Daily Trends, and Historica
In the weekly time frame, Ethereum broke out of this horizontal resistance, resembling the pattern observed in the last bull run. Following this breakout, a retest similar to the previous bull run is anticipated.
In the daily time frame:
- Ethereum faced rejection at the $2400 level.
- The $1800 to $2000 range is identified as a support level, also representing the 0.382 level of Fibonacci retracement.
- In my opinion, the optimal entry point for Ethereum is within the $1750-$2000 range.
Regarding Ethereum's historical data:
- In the first cycle, after the all-time low (ATL),
ETH
took 777 days to surpass its previous all-time high (ATH).
- If history repeats itself, a new ATH could potentially be reached around 700 days from today, possibly by July 2024.
- The last bull run lasted around 1071 days.
- This time, it is expected to last between 1071 to 1064 days of a bull market.
Based on fractal analysis and chart data, it is anticipated that Ethereum will reach its next bull market peak in May to June 2025.
In the daily time frame:
- Ethereum faced rejection at the $2400 level.
- The $1800 to $2000 range is identified as a support level, also representing the 0.382 level of Fibonacci retracement.
- In my opinion, the optimal entry point for Ethereum is within the $1750-$2000 range.
Regarding Ethereum's historical data:
- In the first cycle, after the all-time low (ATL),
ETH
took 777 days to surpass its previous all-time high (ATH). - If history repeats itself, a new ATH could potentially be reached around 700 days from today, possibly by July 2024.
- The last bull run lasted around 1071 days.
- This time, it is expected to last between 1071 to 1064 days of a bull market.
Based on fractal analysis and chart data, it is anticipated that Ethereum will reach its next bull market peak in May to June 2025.
Comment:
#Ethereum is currently forming a symmetrical triangle.
But to confirm the next move, we need a breakout or breakdown of this pattern.
Based on technical analysis of the pattern, we can expect a potential 20% movement in either direction.
I will keep you updated if necessary, so stay tuned.
#Crypto
But to confirm the next move, we need a breakout or breakdown of this pattern.
Based on technical analysis of the pattern, we can expect a potential 20% movement in either direction.
I will keep you updated if necessary, so stay tuned.
#Crypto
Related Ideas
In the first cycle, after the all-time low (ATL),
- If history repeats itself, a new ATH could potentially be reached around 700 days from today, possibly by July 2024.
- The last bull run lasted around 1071 days. - This time, it is expected to last between 1071 to 1064 days of a bull market.
First cycle: 777 days from ATL to surpass previous ATH.
- If history repeats, new ATH around July 2024 (700 days from now).
Last bull run: 1071 days long.
Expected current bull run: 1064–1071 days.
Based on fractal analysis and chart data, it is anticipated that Ethereum will reach its next bull market peak in May to June 2025.
#Crypto