Ethereum path to $800
Markus Gates
Ethereum
4 years ago
1 QCP
We have the Major Support/Resistance level at $350-370 and a Huge Rising Channel. The low for ETH was established at $80 in December 2018 and ironically we had the second low (higher low) almost one year after - in December 2019.
Previous swing high is in danger of being reached and when we get there, ETH will start looking even more bullish. The only thing needed is a higher high and there we go!
Now why exactly $800 is the ultimate and most optimistic target as of right now?
Technically speaking, the pattern Ethereum has been developing (still needs confirmation by breaking the prior swing high) has a pretty bold target of $800.
If we break above Major S/R level, next resistance comes at the upper borderline of the channel, which for that moment maybe around 0.618 Fib.
Once that resistance cleared, the way toward $800 will be open.
Previous swing high is in danger of being reached and when we get there, ETH will start looking even more bullish. The only thing needed is a higher high and there we go!
Now why exactly $800 is the ultimate and most optimistic target as of right now?
Technically speaking, the pattern Ethereum has been developing (still needs confirmation by breaking the prior swing high) has a pretty bold target of $800.
If we break above Major S/R level, next resistance comes at the upper borderline of the channel, which for that moment maybe around 0.618 Fib.
Once that resistance cleared, the way toward $800 will be open.
- Ethereum
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