1) Completed 5 wave correction (last extension due to Omicron)
2) Start of the bull leg with nice bullish volume
3) Break and retest first 200EMA (this cycle with 61.8 fib), and 50EMA (both cycles)
4) Break the structure and continue.
RSI = Break, retest and continue above the EMA. A lot of space to the upside.
In 2021, ETH followed moon phases almost perfectly. It had 1 failed moon, and 2-3 semi range movements, otherwise, the bias of the moon was obvious. What an interesting point of view. Human psychology is everything.
If the support we are sitting on right now holds, we are going straight to 3500-3600 resistance. If it doesn't (looks like it won't), we will healthy retrace back to support levels. We have 2 short term bearish options in my point of view, which will probably realise. I doubt we have that much bullish power, but crypto is crypto.