A picture say more than a thousand words. As you can see Ethereum has made a double top. Now it can go 2 ways. Normally we are going to see the target of the double top but there are also the rising wedges.
If ETH bounces back on the orange trendline then we can see a triple top or a target of 5000 USD.
Note also the very low volume in Ethereum compared with the begin of 2021!
I wish you all very nice profits!
Disclaimer This is my view, no advice to buy or sell. Also always do your own research!
--->> Dear friends please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
@imran2078, Thank you too my dear friend! great motivation! I hope you can have some nice profits in this market!
Khobi7
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Look at this chart......a Phenomenal one.
Ether2020
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@Khobi7, Thanks my dear friend! Yes it is happening:-) It will go with rebounces but the end target will be much lower than people expect. It is always like that! The markets are pumped by FED and EU moneyprinters. Now we see an inflation of 6.5 % in Europe! Interest rates will go up and all the money will flow out of stocks and crypto's. There are several other risks waiting. Russia Ukraine, Interest rates, very high debts all around the world by the Covid crisis abd money printing and the new energy crisis! Be patient will pay in the end!
TradingLamp
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Nice analysis, many thanks.💡
Ether2020
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@TradingLamp, Thank you my dear friend! You are also awasome!
mihaibrandi
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worth mentioning that on the log scale it broke down, retested and got rejected. My opinion - it bounces on abt 3000 - 3200 to collect the liquidiy there and goes for ATH
Ether2020
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@mihaibrandi, Yes my friend very possible but the 4 year cycle is coming to an end. I like to work in steps and see how the sitation is at that moment. Thanks for the remark!
poplach
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2800 I'd say, then rebounce, then go to deep waters. 5000 is good price for 2025