– Ethereum currently has the biggest ecosystem and running smart contracts for a long time.
This headstart led to a big market dominance compared to its competitors like Cardano, Solana, Cosmos, etc.
– It takes some time to create such ideas and drawings.
You are welcome to pay me back with a comment that states your opinion and maybe leads to further improvements considering my charts and explanations.
– ETH dropped three times to the 1750$ level and did get a bounce each time.
– The blue arrow shows a W shape recovery which is considered to be a strong pattern and signals a trend reversal.
– Currently trading stays rather low which signals that some people still don’t believe in a trend reversal.
– On the side we see a bounce off the 50 line which also did break the recent downtrend drawn by the orange line.
– We see a golden cross indicated by the yellow camera.
This time we see a strong separation between the different MA which is very .
– Price consolidated below 3400$ and seems to bounce of the 20MA to finally break through.
– We expect to continue the bullrun and aim for higher price targets.
– Not much resistance is seen up to new ATH’s, so it could be a fast ride.
– We expect to hit the previous ATH soon within this month.
– Never buy the top/ ATH
– Take profit as long as you can (also partial profit is profit)
– Use Stop/loss for leveraged positions
– If you are not experienced, don’t leverage in the first place
Enjoy the ride and don’t be too greedy.
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– Green lines are tested support lines.
– Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
– Cyan line is for trendline.
– White lines are levels
– Purple lines are we take a look at.
– Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
– Yellow lines are for visual help only.
– Either entry zone or . Check the description.
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