The last peak at $829 was almost exactly one year ago, in May of 2018.
That Impulse and its Ripples have carried the price since then down to $82.
From the bottom it has been accumulating energy at each Band traversed.
It has worked its way through the lower bands of this long term Fib series.
Now it has broken out of Band 5 (5.xxx zones) and is headed toward Band 4.
"Wide Open Spaces" between bands are like voids where price does not like to linger.
Once it achieves "Escape Velocity" to leave one band, it should quickly reach the next.
There is often a "Sling Shot Effect" which causes overshoot before the energy dissipates.
1st target will be the 4.764 at $271.61 where it will lose some Velocity.
2nd target will be the 4.618 at $288.69 where it has the most Gravity .
Further targets will be determined by amount of gained Momentum.
Below are some of my other plots of break out plans.
breakout and targets that were hit perfectly
See these previous plans and the accuracy of my methods.
BTC call for $8k target was hit perfectly
ADA breakout and perfect Targets
XLM breakout and perfect Targets
ZRX breakout and perfect Targets (one more to go)
XMR next up for breakout, bottom watch here
Zoomed in a bit, we see the 2 hourly candles that jumped from one fit to the other
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In regards to the pullback, I had $224 as an important figure which looks like it might hold.
$216 is the next key figure at that is the high tf fib that we launched from, and really should not go below or we risk losing the uptrend.
At this time, it is very difficult to gauge whether dip is done or more to go. We may well have completed a requisite ABC correction, only question is whether we have a D and E to go ....
Of course, we are way overextended on everything, btc especially, and the King decides to pull back we know what will happen...
So I am still cautiously optimistic that we could have one more leg up across the board before the serious correction we all know is coming....
It may well take a couple bounces off support to achieve escape velocity.
And you hit about the RR, the fib zones provide precise boundaries for SL and TP placement.
I like to drag Trailing Stops to just below the last band's lower boundary, as price cuts through bands.
Longer term I think Ether has a lot going for it, and I think it will the Cinderalla story of 2019!