igorwolwacz
@t_igorwolwacz
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igorwolwacz
After the breakthrough of the rectangle formed between $3,200 and $3,030, Ethereum has stopped the short sellers in the market. The next goal is the breakthrough of $3,370. This resistance could be harder to overcome than expected, but I believe the strongest resistance is around $3,550. Why do I believe this? This area is very magnetic in both bull and bear trends. The price typically stays there for a few days (2 to 5) before breaking through (as seen in the red pointers). Additionally, this is a Fibonacci target of halfway in a bullish pivot on the daily timeframe. Finally, $3,550 marks the last retracement of the most recent short run.
igorwolwacz
After the breakthrough of the symmetrical triangle at $90,143, the next step for the price is $103,000. This value should be achieved in a very short period of time because the bull run is very strong now. As seen in the chart, the pullback barely touched the 0.382 Fibonacci retracement.
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