The price action was expected to produce between 59% upto 123% and the price action took from this potential reversal zone and so far it has generated more than 96% profit and at this time the price action of Ethereum is entered in area of C to D leg as I predicted.
Ichimoku Cloud Turned Bullis:
Up to week chart the is turned at this time on this week chart the lagging span has crossed up the priceline and that is very indication specially on week chart.
Candle sticks are crossing up the conversion and base line and also crossing cloud once these crosses up will be completed the it will be difficult for the priceline to make a reverse move and cross down the cloud and conversion and base lines, in the meanwhile conversion line is crossing up the base line just below the priceline of Ethereum once this bull cross will be completed the cloud which is again reversed at the moment it will be tunred back .
Indicators And Oscillators:
If we see even on 2 week long term chart then it can be clearly observed that all important indicators and oscillators are turned like the has given bull cross from oversold zone and we have received this bull cross after Dec 2018.
The moving average convergence divergence ( ) is turned strong after Jun 2019 and chop zone is also turned after Jun 2019 these indicators are clearly showing that the trend is being changed in favors of bulls now.
If we see the movement of simple moving averages with time period of 50 and 200 on week chart then it can be observed that the price action has almost crossed up the 50 and fighting the strong resistance of 200 (in black), once the price action will be successful to cross up then it can easily breakout the long term price resistance at $310.97 here one more thing is in favor of this breakout that the momentum is also completed shifted to bulls as there can be seen 1st strong bar in after Jul 2019.
Once this resistance will be broken out then the price action may move to break or hit the next long term resistance at $742.28.
This is a long term analysis there can be many other resistances on short term charts that I am not discussing this time this is a long term perspective post.
I will keep posting more updates on Ethereum when I will find more developments.