ETH | Macro Analysis

29 בנוב׳ 2023

I think ETH is completing a Leading Diagonal Formation, which means we should have a third higher high (5) and then crash

IMO the low is in ($880), but a higher low is coming.

Comparing the two cycles we’ve had so far, I come to the conclusion that the cycle structure is repeating again.

Watch this:

1. Higher high on price & lower higher on RSI - Bearish Divergence. ETH tops out.

2. Red Circle - Dead Cat Bounce between 0.5-0.786 Fib before the main phase of the Bear Market;
3. Blue Circle - Relief Rally (correction of the entire downtrend);
4. Green Circle - Bull Trap before the Ultimate Shakeout.

I believe that relatively soon ETH should go below $1600 and establish a higher low. Once it’s done we can have a spectacular rally.


What about the Bull Market Top target?

No doubts Ethereum will break its 4.8k ATH.

In 2021 ETH peaked exactly at 1.414 Fib.

I think in 2024-2025 ETHUSD will top out somewhere between 1.272-1.414 Fib: $7700-9900