On the weekly ETH chart, we see that the first downward movement has already reached 100% of the projection, taking us to 900$. Which can show us a possible formation of a true background.
Now ETH appears to be in a bullish channel. At this moment I see the possibility of the price reaching the gaza range, which is the zone between 50 and 618 fibonacci. Being a potential target the top of this channel.
And what do you think of this idea? Comment down below and give a boost to support my work!