Ethereum Bull Run Analysis & Commentary - Ethereum is currently trading at 3204$ and has breached all recent swing lows
- Structurally Ethereum looks all set to purge way higher in the upcoming weeks
- Ethereum is up 30% this week for all those faithful holders, ethereum has finally started moving impulsively and all the patience was worth it
- Technically, I see ETH reaching 3400-3600$ soon and post that I would like to see how ETH reacts from that zone.
1) Scenario 1 - Lock in partials around 3400-3600 and deploy the same partials when you see ETH dipping back to fill the FVGs around 2800-3000$
2) Scenario 2 - You let you position run and lock in partials around 4000$ and deploy your gains when you see ETH dipping back to 3500$ and second deploy around 3000$
- My bull run conservative target for Ethereum is 8000$ minimum anything above that is a gift
Ethlongsetup
ETH will significantly outperform BTC through 2025ETH/BTC is at a crucial inflection point and may be about to reverse, giving ETH an opportunity to outperform BTC significantly from now through end 2025.
Points to support this argument from the weekly ETH/BTC Chart:
1. Support line since Jan 2020 is being tested (pink). If this holds, a bounce and reversal is possible
2. The impulse wave that started in Jan 2020 topped in December 2021 (orange 1 on chart) and has been in a correction Wave 2 since then. This Wave 2 has been a clean ABC correction (end points labeled in blue).
3. The Wave 2 pullback is currently between the 0.618 and 0.786 Fib level and this may be a confluence with the Support Line since Jan 2020 (see point 1), offering a confirmation of a reversal
4. It is way below the 200 DMA (yellow line) and the 200 WMA (orange line) and reversion to mean may be next
Taken together, these build a solid case for a reversal of the ETH/BTC trend. If this reversal occurs, completing Wave 3 means ETH will significantly outperform BTC through end of 2025. Only if this pink support line since Jan 2020 is converted to support first. Interesting times.
Ethereum Swing Long Update- Ethereum is currently trading at 2697
- Ethereum is highly undervalued in this current market scenario
- If we compare Ethereum with other Crypto Majors Bitcoin Solana XRP all of them have recovered massively but Ethereum is still down by 30% from its recent swing high
- Ethereum needs to flip 2800$ and its going to be an important zone for ETH to flip for an impulsive leg towards 3600$ where we saw ETH last time tanking from post the ETF Approval
- If you are looking for Spot Buys then watch out 2550-2620$ I don't think we should fall below 2300$ but if we do you know what needs to be done
- Watch out for spot bids and don't try to short the market in every rise you see, you will get liquidated very bad