Ethereum is forming a bearish wedge pattern on high time frame and to vakidate that pattern it has to rise and confirm the third and final rejection from the top rising trendline.
Imo by the end of this year the downward trend will again start.
If it hold here then it's a great opportunity or else stay vigilant.
The 1 Hour Retrace pattern is a candlestick formation with great potential for success and strength.
This pattern originates after a false breakout of the level in which the price is contained, for example, in a channel.
The beginning of this pattern occurs when one of the candles breaks outside the levels that contain the price and, subsequently, the next...
ETH will take some retracement which have chances to 1800 to 1780 level, if it loss that support we will see big correction till 1450 area which gave unfilled Gap. after that will see bullish rally of halving.
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Ethereum ETH epic trend line, W-shaped trend, will eventually reach the red trend line around 2025, ETH will reach 8000/10000, the bottom has formed The bull market has come, and the epic new high price will take many years to reach.
Ethereum is the second largest crypto in the world and one of the safest too after Bitcoin. It will be important to see how Ethereum plays out in the next Bull run.
POI for Ethereum remains at 1615-1738$.
There are 2 scenarios building up one has a different path to play out and other too has a different path.
ETH/USD at 1840.
Wave 1 : Starting from 1620 to 1940
Wave 2 : 38.2% retracement @ 1815
If it is deep then we may see 1744.
Wave 3: If we consider wave 2 is completed
and wave 3 is begun then 2550-2650 is the
Target for wave 3 .
Analysis by Bharat Kumar on 29th June 2023
If we consider the given options for Ethereum entry prices and their average of $1689.7, here is a comparison:
1793.0: This price is higher than the average. If you enter at this price, you are buying Ethereum at a premium compared to the average price.
1724.6: This price is also higher than the average, but not as much as the previous option. Entering at this...
We're close to two major resistance. Will have to wait for ETH to reject 2 of those trendline one of them is downtrend channel and another is on Daily chart. We will see if it breaks above it and continue. RSI is pretty strong at the moment but starting to curving downward. I'll be risking only about 3.50% of my position size to gain at least 6% on this trade. my...
