Ethereum Topped. Where Are Our Targets?
It is likely Ethereum has topped out here. Lower timeframes show a tonne of illiquidity patterns and a lower high, indicating total lack of strength to push any higher, so we will need to go down to lower levels until buying steps in.
Given how slowly it is moving to the downside, and that all areas of support/resistance get bought up, I would say this is a monstrous liquidity grab and we will set up a consolidation zone before moving much, much higher.
I see this as the 3rd leg of the Elliott Wave. It would be great to move to the slower support and have everyone saying crypto is dead etc. If volume come in there it will be a great entry.
Given how slowly it is moving to the downside, and that all areas of support/resistance get bought up, I would say this is a monstrous liquidity grab and we will set up a consolidation zone before moving much, much higher.
I see this as the 3rd leg of the Elliott Wave. It would be great to move to the slower support and have everyone saying crypto is dead etc. If volume come in there it will be a great entry.
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If we consolidate here any longer I'm gonna call this a cool off and buy and breakout super long.