ETH has consistently been making higher lows on every single dip and finally bottomed out at $556 before turning $600 resistance into support.
$600 - $617 was the prime buy-in accumulation zone before taking off to hit the $669 - $687 sell-off distribution zone.
From here the price of Ethereum already 1st touched $713 resistance and backtested both the $669 - $687 levels. These two levels have turned into support now and backtesting both levels only gave confirmation to continue the move upwards.
Going into the weekly close in about an hour, if ETH can hold above $670 and even reach $687 then it's looking great going into the next week and the rest of the year going into 2021.
I'm expecting some consolidation around the $669 - $687 range before moving back up and that's where I have my buy orders placed. This area of distribution turned into support (green). Here are my sell targets going long to close out the 3-year valley created at the $788 level
TP1 🎯 $713
TP2 🎯 $755
TP3 🎯 $788
Everybody knows that Bitcoin reached its all time high price this month, and ETH looks like it's on its way there too. This time around as opposed to 2017, instead of horrible ICO's with no real value and 'cryptokitties' clogging up the network; now in 2020 we have successful DeFi projects, $15B locked in DeFi, ETH 2.0 being able to stake your coins with $1.5B locked in staking. The best is yet to come!
$600 - $617 was the prime buy-in accumulation zone before taking off to hit the $669 - $687 sell-off distribution zone.
From here the price of Ethereum already 1st touched $713 resistance and backtested both the $669 - $687 levels. These two levels have turned into support now and backtesting both levels only gave confirmation to continue the move upwards.
Going into the weekly close in about an hour, if ETH can hold above $670 and even reach $687 then it's looking great going into the next week and the rest of the year going into 2021.
I'm expecting some consolidation around the $669 - $687 range before moving back up and that's where I have my buy orders placed. This area of distribution turned into support (green). Here are my sell targets going long to close out the 3-year valley created at the $788 level
TP1 🎯 $713
TP2 🎯 $755
TP3 🎯 $788
Everybody knows that Bitcoin reached its all time high price this month, and ETH looks like it's on its way there too. This time around as opposed to 2017, instead of horrible ICO's with no real value and 'cryptokitties' clogging up the network; now in 2020 we have successful DeFi projects, $15B locked in DeFi, ETH 2.0 being able to stake your coins with $1.5B locked in staking. The best is yet to come!
TP2 🎯 $755 (hit)
ETH we've been waiting all week for this pump it's not going to stop off of 1 candle. A lot of people taking profits at this level because it's a known resistance level, but the real resistance level is the 3-year valley created from Feb 2018 @ $788.51
After $788.51 i'm expecting ETH to wick $812 before pulling back a bit possibly back down to the $755 zone