ETH will continue its rally?

ETH has increased 25% within three last days. Will it continue with a bigger rally?

Following Wyckoff analysis, its seems that price action is in phase D: consolidation around the higher ranges. If these levels around 1700 holds, another leg up would happen.

Can Shanghai upgrade could be a catalyst for next big move of ETH?

Proposed Targets are in chart

Target: blues lines for intermediate targets and blue zone for final one
SL: below the EMA 50D

PS: In my previous analysis (cf the link below), a Spring was missing. ETH didn't follow the Accumulation Schematic 2.

手動結束交易

Trade closed due to bad macro context (linked to banks)

交易進行

ETH broke the upper resistance (UA level).

註釋

+5% but it's just a start

註釋

ETH did'nt go up much the last day because ETH/BTC has been decreasing.
At this moment, ETH/BTC is at support...
It's expected that ETH would go up faster (along with BTC).

註釋

ETH still hold the UA level, around $1715

註釋

ETH starts moving up with the whole crypto market.
Can it outperform BTC this time?

手動結束交易

BTC seems to form a double top pattern (on 4H TF). It would have a correction...

交易進行

I re-enter because that ETH hold well the current level and because of the following chart:

註釋

ETH's 1W candle broke the current trendline (dashed black line) and retested it. Logically, prices will go to the next upper trendline (around $2400-$2500)

註釋

News: ETHEREUM SHANGHAI UPGRADE (MAINNET) ON APRIL 12, 2023

註釋

Local consolidation area is being broken out. ETH is ready to take-off

註釋

Slow but steady moves upside.
If nothing bad happens on 12 April (17M of ETH being unlocked tommorrow), ETH would go up faster.

註釋

Shanghai unlock didn't not trigger massive withdraw. ETH is up 4% and outperforms BTC today. Intermediate target 2024 is almost reached.

+20% since entry at post's time.

註釋

ETH are leading alcoins, please check my related analysis