A strong recovery sends ETH past previous highs reaching upwards of 3900. However momentum has yet to break critical which may result in a double-top. If this occurs supports should be noted at 50EMA -> 3615 -> long-term neckline (red) as final. Closing below this zone would set us up for cycle reversal. www.tradingview.com
A strong push sends ETH to 3810 (adjusted) but results in a highly-volatile correction of $600. H1 lows held around 3210 but closes remained near 200EMA to bring price back above 3500. If this was an outlier we should expect to keep within the range of 3500/3520 and 3615 (3/04). With today coming to an end focus on closing above 3500 to maintain a bullish...
Price breaks above 3500/3520 (W1 average) with momentum bringing us to 3615 (~W1 high). A flip attempt is forming above zone with today's daily closing on current candle (~25 mins). Success could continue us towards the next critical resistance at ~3800 (3805). If not assume consolidation between the aforementioned zones before further recovery. www.tradingview.com
ETH pushes back to 3500 in another attempt to flip the W1 resistance zone. An assumed H4 double-bottom has been formed using 3450 neckline and 20EMA support. Continuation could place us within the next bullish cycle but a number of successful flips will need to occur first. www.tradingview.com
Resistance holds in around 3450 to prevent further recovery along with a possible double-top. Price continues to maintain above 3405 which is a good sign in keeping a bullish momentum. Another push is entirely possible if support can sustain zone. www.tradingview.com
ETH pushes back above 3405 critical providing another attempt in flipping 3500 (3520). Formation of an H4 double-top may arise if further rejected and we should try to keep above 3315 (D1 ST bearish piercing) if this occurs. 50EMA is now held over 3190 (D1 LT bearish piercing) and 3210 critical which leans momentum towards maintaining a more bearish...
Another rejection at 3500 prevents a successful flip at the 3405 critical marker. Highs met resistance at the W1 neckline (3520) which could indicate LT momentum reversal. We should continue to try and hold above 3315 (D1 ST) with next support at 3190 (D1 LT). www.tradingview.com
Price pushes just short of 3500 but struggles to maintain above the ~3400 marker. Per 2/25 post, the next W1 'neckline' is considered around 3500 (3520) however D1 can be noted closer to 3400. Failing to close above this zone should result in another corrective movement; look to keep above ~3315 if this occurs. www.tradingview.com
ETH flips the 3200/3210 critical priceline bringing us into the mid-3200s. Expect a hold between ~3200-3400 until consolidation forms another pattern. The 3k crossover marker has been removed but the added support will remain applicable. www.tradingview.com
ETH continues to rise bringing us to our next critical at 3210 (3200). Expect some resistance here but look to maintain close to zone to help 50EMA. The 3/01 marker has been left in to indicate the hold goal for 3k. www.tradingview.com
Price breaks above 3k with several closes established to assume a successful flip. Highs (3120) were just short of the volatility marker (3130) and may replace/denote the start of a 'steadier' recovery phase. Look to keep above 3k until the upper wedge crosses to increase support strength. This should raise 50EMA to zone. Keep in mind that we've had a...
A breakout at symmetric resistance positions ETH for another flip attempt at 3k and likely our last before momentum reversal. PA has formed a double-bottom with current zone as neckline providing some additional hope in succeeding. As a reminder the next critical is at 3210 with 3130 marking the end of the 'high-volatility' range. Also apologies for yesterday's...
ETH breaks above symmetric resistance yet continues to close below 3k. At this point a successful flip at 3k seems pertinent for continuing momentum. Falling back within the purple wedge would likely elongate consolidation until the 3/01 marker. 3210 is the next critical priceline with the 'high volatility' zone ending at 3130. www.tradingview.com
Price fails to flip 3k dropping us back to the upper boundary. A symmetric pattern can now be seen forming at this zone with average indicated. Look to hold within pattern while remaining above ~2900 for the upcoming D1 close. www.tradingview.com
A solid push brings ETH back to 3k with 50EMA now above consolidation average. An early breakout is possible given recent bullish consolidation but that also means we should avoid dropping back into wedge due to the possibility of a higher-volatility sellout. Focus on D1 close (~6hrs) to determine future momentum. www.tradingview.com
Price pushes to the upper boundary to signal what appears to be the first breakout attempt of the newly indicated wedge. I'm still not expecting a successful flip at this time but given this is a 'high volatility' zone it could be possible. The focus now should be on maintaining 50EMA above 2750 until the next breakout attempt. www.tradingview.com
Steady recovery keeps ETH above 20EMA as we move towards the next MACD divergence. A similar scenario to the 2750 crossover can be assumed using the upper boundary + 3000. Another wedge layout has been indicated for current expected consolidation. www.tradingview.com
Price bounces off 2750 bringing us back above the consolidation average. Look to continue holding within this upper zone until 50EMA reaches around the above. Be wary of the possibility that this could be another outlier if MACD divergence fails to occur. www.tradingview.com