ETHEREUM getting ready for a +20% jump

Ethereum (ETHUSD) continues to trade within the Channel Up that started on the November 2022 market bottom and is currently supported by the 1D MA50 (blue trend-line). This draws comparisons with the final consolidation after the March 10 Higher Low at the bottom of the Channel Up. Both in price and 1D RSI terms the two fractals form an Inverse Head and Shoulders which is a bullish reversal pattern found on market bottoms.

The previous fractal topped on the 2.0 Fibonacci extension level, completing a +56% rise. The 2.0 Fib on the current formation is at 2250, while a +56% rise potentially peaks 2550. We will pursue initially the $2250 target (will be a +20% increase from the current level) as it is near the 1W MA100 (red trend-line), which is a critical long-term Resistance as it has been unbroken since May 15 2022.

-------------------------------------------------------------------------------

** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇