ETH Rejected off of $600, What are the Targets This Week?
Ethereum has had a great month with the price going from $385 -> $617 that's a pretty incredible upwards gain. ETH also released the news, partially a factor to the sudden increase in price of the ETH 2.0 network launching it's genesis block on December 1st because there were well more than enough Ethereum staked on the network to launch.
The upwards momentum is still there and if you aren't too careful it'll sneak up on you and surpass $600 again without you noticing until it's too late. ETH is done falling, it caught it's bottom at the daily support level and uptrend at $498 and has reversed from there without a single candle close below the $498 level indicating very bullish momentum.
I'm expecting the price of ETH to get rejected off of the $556 weekly resistance level and then bounce back down to try and test $522.48 before moving back up to the $600 & Above levels. This is pure capitulation and you will all see what i'm talking about in about a week or so going into the new monthly candle when this all plays out. Here are the long targets I have placed:
TP1 🎯 $556
TP2 🎯 $600
TP3 🎯 $617
As always please do your own research, I am not a financial advisor.
The upwards momentum is still there and if you aren't too careful it'll sneak up on you and surpass $600 again without you noticing until it's too late. ETH is done falling, it caught it's bottom at the daily support level and uptrend at $498 and has reversed from there without a single candle close below the $498 level indicating very bullish momentum.
I'm expecting the price of ETH to get rejected off of the $556 weekly resistance level and then bounce back down to try and test $522.48 before moving back up to the $600 & Above levels. This is pure capitulation and you will all see what i'm talking about in about a week or so going into the new monthly candle when this all plays out. Here are the long targets I have placed:
TP1 🎯 $556
TP2 🎯 $600
TP3 🎯 $617
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.