EthereumLong
ETHUSD Bottomed Out Along the $2022 Support
Ethereum has found new highs in May during a period of price discovery and everybody losing their minds over the NFT craze. From the peak hype, we’ve fallen about 60% and have been capitulating ever since (about 1.5 months).
ETH has found support along the 1.0 Fib level at $2,022 and this pattern looks the exact same from the pullback we saw in January 2021. We capitulated back down to underneath $1000 briefly and eventually found support along the $1000 psychological level of support.
This essentially is the same type of pattern, just on a bigger scale and time frame.
I believe the bottom is in at $2,022 and we’re going to pump up towards the 1618 Fib level at $2,709.
As always please do your own research, I am not a financial advisor.
ETH has found support along the 1.0 Fib level at $2,022 and this pattern looks the exact same from the pullback we saw in January 2021. We capitulated back down to underneath $1000 briefly and eventually found support along the $1000 psychological level of support.
This essentially is the same type of pattern, just on a bigger scale and time frame.
I believe the bottom is in at $2,022 and we’re going to pump up towards the 1618 Fib level at $2,709.
As always please do your own research, I am not a financial advisor.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.