ETH is showing strong signs of an impending breakout to the $6.4k–$8k range, backed by two key technical indicators:- Cup & Handle Formation: ETH has recently broken out of a textbook cup and handle pattern, confirming the breakout with a solid retest over this past week of VOL. This is a classic bullish signal pointing to higher targets.
- Bull Pennant: Since the 2021 rally, ETH has been consolidating within a massive bull pennant. This long-term structure suggests Ethereum is coiled and ready for a significant move upward.
- 1.618 Fib: Also layering in a Fibonacci retrace, if ETH is indeed heading for ATHs and price discovery, the 1.618 FIB is a common level that traders are very familiar with. It just so happens to be right in the middle of our target box at ~$7k!
Momentum is building— we will need to keep an eye on volume and follow-through for confirmation.
To boot, bearish sentiment for ETH is near all time highs. I think it might be time for a most-hated rally. I have a short term allocation in
ETHT to ride this momentum, NFA DYOR 交易進行
Still right on track with the LTF trend-- higher.
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