Having observed #ETH for some days now, i think we may be in the middle of a mid-term rally that could give us a potential 50%-90% returns from it bottom of 0.0271 sat.
Price broke above and found support at EMA 20 which has proven to be a verY strong resistance in the last 4 month on the daily.
Presently we are forming series of higher highs and higher lows on the 4 hour and 1 hour time frame which makes me beleive a new trend like the one we saw between March ending and May 2018 may be forming in the mid term before another correction downwards to finally kick start an uptrend IMO.
However, RSI is pointing to the moon as it still has more room to go higher, while momentum seems to have hit the roof both on the daily and on the 4 hour time frame. So i do expect the present correction to extend down to the historical support level at 0.031 sat, before moving to challenge the three identified resistance level above.
Price broke above and found support at EMA 20 which has proven to be a verY strong resistance in the last 4 month on the daily.
Presently we are forming series of higher highs and higher lows on the 4 hour and 1 hour time frame which makes me beleive a new trend like the one we saw between March ending and May 2018 may be forming in the mid term before another correction downwards to finally kick start an uptrend IMO.
However, RSI is pointing to the moon as it still has more room to go higher, while momentum seems to have hit the roof both on the daily and on the 4 hour time frame. So i do expect the present correction to extend down to the historical support level at 0.031 sat, before moving to challenge the three identified resistance level above.
