Incredible or not the Ethereum upgrade turned out to be a bullish event... Surprised?
Not at all since the market has been growing and we were set even before the upgrade for higher highs and higher lows.
In this weekly chart we have the same signal 6-March, a very strong reversal candle... Also notice that Ethereum has been trading always above EMA10 since January 2023.
But wait... What about the volume? Where is the volume?
I will repeat this now but this is the last time, the next articles we will be looking at new perspectives, new points, new ideas... Those that do not upgrade themselves now will stay behind.
The low volume works as a continuation signal. Since there is nobody selling, no sellers, no bears, then the volume is low as prices move up.
Only when a new/strong resistance level is reached, volume will grow as Ethereum continues moving higher.
2500 Is the very easy, short-term target. Ethereum can continue higher and hit 3500 and even 3880 or more.
You read this here first, second, third, last... :D
@rezashamlo65, Be more detailed my friend... What's your concern?
The_Bitcoin_Boy
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I read there are 1.5B of unstaked sell orders waiting to hit the market that should be available by April 19th. Should get interesting.
Mikanoshi
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@kwood0319, Majority of ETH was locked in liquid staking, everyone could've sold if they wanted to. Now staking does not lock your coins, it will be more buying and staking, not less.