kyer

$ETH 470 is the Next Target

KRAKEN:ETHUSD   Ethereum / U.S. Dollar
  • Looking at the 2-Day chart we see $470 is the start of the valley that was created in August 2018 and to this day still hasn't broken out of it

  • Last summer the price of ETH hit around $4460 and never even got a daily close above $316.

  • This year we had the coronavirus wave down which we found the 2nd swing high of the downtrend drawn on the chart.

  • Now the price broke out of the downtrend pretty aggressively and broke through every resistance $276, $316, $369, $385 and touched $415

  • Now i'm thinking that this move upwards is legit because we're almost at 2-year highs which would be huge for ETH and would bring some heavy fomo into the crypto space. If ETH goes and breaks above $470 it's wraps

  • It's going to moon if it breaks out of $470

  • For now the price is consolidating on-top-of $385 and you can see that in the smaller timeframes. Trading in the range of $385-$415 at the moment.
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Comments

IMO it's a big adam&eve with a target of 540$. Thanks for your idea.
Reply
kyer rylos
@rylos, has to hit $470 before $540 but yeah no prob
Reply
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