People have been asking for an Ethereum chart, and the last one is a bit outdated. In our previous analysis, we called for a target of $312 but unfortunately the entries we wanted to see were never reached.
So now, having redrawn the Fib retracement, we can see that in fact, there has been a clear measurable 62% retrace on ETH. Remember that nothing is forcing these coins to retrace.
In any case, zooming out gives us a better picture on ETH, I think mainly at this point it did in fact break the speed fan resistance and simply, consolidate into an order block above it. How do I know these impulse waves will continue upward? Well, I don't, but simply, notice the reaction to the .618 time zone. That, typically, is an indicator that the market would like to continue moving up. Not always, but it is a solid clue.
Now, I have placed two targets on the chart, the 127% and 162% extensions, both under the next speed fan resistance. I expect them to be met as we begin to push up against the outer Fib circles (white) and subsequently, the .618 timezone from a higher timeframe.
This really isn't rocket science, the whole market is in a clear state of FOMO now. Just be careful and make sure to take profits...that is what kills traders here. Don't chase the pumps...market buys are not your friend.