#ETH exclusive long term update: must read!!
Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
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I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as FINANCIAL ADVICE.
#ETH LONG-TERM UPDATE:
If you look closely at the first cycle and compare it to subsequent cycles, you will find that the beginning of 2021 was great for ETH because it grew by almost 500% in 3 swings.
If you look at the second cycle, the price has risen at first, but later you realize that this is a trading range. In the trading range, there is a difference between the buyer and the seller.
After the failure of the trading range, the price enters a downward trend for a while and falls about 51%. You may think that this is too much and it is no longer possible for the price to return. In fact, this is not the case. It is necessary for the price and health of the market, although this decline did not happen easily,
In general, I do not see good conditions for risky financial markets. On the other hand, the price is currently moving within a trading range, which is also a sign of the end of the downtrend and the beginning of a new cycle.
If the price wants to move as it did in the past, we should see an increase in the price of ETH in the coming days
We can see in the chart that ETh is making this ascending triangle pattern under this channel so according to this triangle pattern if ETH break this triangle pattern with conformation we can expect a bounce up to $1000
if it breaks the lower support of this channel then the chart will be invalided
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as FINANCIAL ADVICE.
#ETH LONG-TERM UPDATE:
If you look closely at the first cycle and compare it to subsequent cycles, you will find that the beginning of 2021 was great for ETH because it grew by almost 500% in 3 swings.
If you look at the second cycle, the price has risen at first, but later you realize that this is a trading range. In the trading range, there is a difference between the buyer and the seller.
After the failure of the trading range, the price enters a downward trend for a while and falls about 51%. You may think that this is too much and it is no longer possible for the price to return. In fact, this is not the case. It is necessary for the price and health of the market, although this decline did not happen easily,
In general, I do not see good conditions for risky financial markets. On the other hand, the price is currently moving within a trading range, which is also a sign of the end of the downtrend and the beginning of a new cycle.
If the price wants to move as it did in the past, we should see an increase in the price of ETH in the coming days
We can see in the chart that ETh is making this ascending triangle pattern under this channel so according to this triangle pattern if ETH break this triangle pattern with conformation we can expect a bounce up to $1000
if it breaks the lower support of this channel then the chart will be invalided
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
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