Once the major area is passed (850) the price reaches a maximum value, then we get a confirmation of the major and the climbing will continue.
Although the price fails to make new highs and exceed the 1300 area, I wanted to remind you that the
January months always represent months of correction both in the crypto market and in the forex market.
The less favorable news, as well as the events lately, have somewhat stagnated the rise of ETH to the 1500 area, but although the increasingly pronounced appearance of those who sold failed to lower ETh below 850. The rectangular yellow area will be an uncertain and magnificent area between those who will sell and those who will buy.
A burst will create a new wave of optimism on the market and drive the price to the 1500 area.
The Yellow Average of 55 works perfectly as support and I do not think there is a crack in its inferior areas too soon.
I'm planning Ethereum in the 2000-2500 area in the coming months, and I expect to see a major price correction, when it will exceed 2000.
In the same time, you need to understand the correlations between ETH and major currency pairs like EUR/USD
I have created a video for all of you that are intrested in understanding more :