What’s Changed?
ETH continued its upward move since yesterday, approaching the $2,000 level and breaking through $1,900 along the way.
Primary Scenario
Our primary expectation is for further imminent sell-offs, which should take ETH not only below support at $1,385 but down into our green Target Zone ($1,169–$560.20). We anticipate the low of the prolonged corrective phase to form there, setting the stage for a long-term trend reversal to the upside.
Alternative Scenario
In our alternative scenario, ETH would soon turn higher again to establish a new corrective top between resistance at $2,464 and $3,656. However, this would also be followed by sell-offs toward our green Target Zone ($1,169–$560.20) (probability: 25%).
Long-Term Outlook
The 2-week chart confirms that, going forward, we primarily expect sell-offs into our green Target Zone ($1,169–$560.20), allowing the corrective move that began in November 2021 to complete there. From the Target Zone, we expect a significant upward move, which should only lose momentum in the red Target Zone on the upside ($11,758–$15,475).
ETH continued its upward move since yesterday, approaching the $2,000 level and breaking through $1,900 along the way.
Primary Scenario
Our primary expectation is for further imminent sell-offs, which should take ETH not only below support at $1,385 but down into our green Target Zone ($1,169–$560.20). We anticipate the low of the prolonged corrective phase to form there, setting the stage for a long-term trend reversal to the upside.
Alternative Scenario
In our alternative scenario, ETH would soon turn higher again to establish a new corrective top between resistance at $2,464 and $3,656. However, this would also be followed by sell-offs toward our green Target Zone ($1,169–$560.20) (probability: 25%).
Long-Term Outlook
The 2-week chart confirms that, going forward, we primarily expect sell-offs into our green Target Zone ($1,169–$560.20), allowing the corrective move that began in November 2021 to complete there. From the Target Zone, we expect a significant upward move, which should only lose momentum in the red Target Zone on the upside ($11,758–$15,475).
📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.