Looking at the 4-hour timeframe, ETH bounced off the $975.99 weekly level without a candle close below it and has created higher lows. This was a capitulation sell off that pushed the price down 27% and has been slowly gaining since.
The $1111 level of resistance turning support was the nail in the coffin of the bullish momentum returning, even though we already knew it was. The TP levels placed on the last chart of $1144, $1166, and $1221 already hit and the next levels moving up are:
TP1 🎯 $1284.99
TP2 🎯 $1358.82 (local high)
Once ETH breaks through $1358.82 and closes above, it’s going to hit the previous 2017 ATH price at $1594.89 and beyond depending on which exchange you’re on. This chart is from Kraken, but if you’re trading on Bitstamp I know the all time high candle wick is $1420, and on other exchanges its ~$1448. This depends on which exchange you trade on, and I suggest looking at the top of the wick to mark the ATH price. It was so volatile in 2017 during the peak that there are completely different prices on exchanges.
The $1111 level of resistance turning support was the nail in the coffin of the bullish momentum returning, even though we already knew it was. The TP levels placed on the last chart of $1144, $1166, and $1221 already hit and the next levels moving up are:
TP1 🎯 $1284.99
TP2 🎯 $1358.82 (local high)
Once ETH breaks through $1358.82 and closes above, it’s going to hit the previous 2017 ATH price at $1594.89 and beyond depending on which exchange you’re on. This chart is from Kraken, but if you’re trading on Bitstamp I know the all time high candle wick is $1420, and on other exchanges its ~$1448. This depends on which exchange you trade on, and I suggest looking at the top of the wick to mark the ATH price. It was so volatile in 2017 during the peak that there are completely different prices on exchanges.
