ETH/USDT Update: Breakout out of bullflag is happening right now for BINANCE:ETHUSDT by tumbler55

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.

Daily chart:

– 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 volume stays rather low which signals that some people still don’t believe in a trend reversal.

– On the RSI 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 bullish .

– 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.

Basic rules:

– 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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Discussions are very welcome here.

Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.



Chart explanation:

Main lines:

– 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 volume trendline.

– White lines are Fibonacci retracement levels


– Purple lines are trendlines 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 support zone . Check the description.

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