ETH 242 Day Cycle - Historical Repeat of 2017? Target $5900
In 2017 Ethereum experienced a rally lasting 242 days for 1400% growth.
It appears we are repeating a similar rally and using that same timeframe and growth percentage, our target is around $5900 ending around July 1st, 2021.
After July 1st, 2021, within the first 10 days, we'll likely see a retrace to the 61.8 Fib.
After July 10th, 2021, a short rise for 10 days.
Then July 20th, 2021 until Aug 3rd, 2021, another drop to the 32% Fib level before slowly dying over the next 242 days to around $850.
It appears we are repeating a similar rally and using that same timeframe and growth percentage, our target is around $5900 ending around July 1st, 2021.
After July 1st, 2021, within the first 10 days, we'll likely see a retrace to the 61.8 Fib.
After July 10th, 2021, a short rise for 10 days.
Then July 20th, 2021 until Aug 3rd, 2021, another drop to the 32% Fib level before slowly dying over the next 242 days to around $850.
Comment:
This is the previous cycle in 2017 I'm basing this analysis on. It's based purely upon ETH historicals and does not consider the current BTC cycle.
