Hello everybody, as the Crypto market is starting to recover, ETH seems to want to lead the way towards the ATH. Can Etherium keep up the momentum?
2 Weeks in the GREEN
After the May dump where all the crypto markets took a dive and corrected massively, ETH was in a 2-month downtrend along with the rest of the coins. The bears were fighting the bulls and many times it was looking like the bears were about to win, only for the bulls to step in and buy all the dips. Over this past 2 months, ETH went down to 1,700$, on 3 different occasions, only for the price to bounce up with MASSIVE momentum.
Ever since the last touch of 1,700$, ETH is looking like it's taking off, forming 13 consecutive GREEN days, but now it looks like it's hit its head on 0.382 perfectly. After this much upside, we're bound to have a correction and retest some resistance so we can continue to the upside. My current target for this correction is 2,340$ right at the 0.236 fib retracement level, where we have the 20 EMA acting as support as well. From there I'm expecting another retest of the 0.382 level, hopefully breaking it and continuing upwards.
Keep this one short
I'll keep this one a bit shorter than the last one as I'm working on something else, but I wanted to share what I see on the ETHUSDT chart today.
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Disclaimer
This is not investment advice, I'm just a dude who loves to look at charts, not some hedgefund :)
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