Ether market analysis

In the past, whenever this range was reached, it was the point of potential reversal of Ether.

In my opinion, Ether has not yet tested this important ratio area of 0.618, probably just around this evening.

If Ether has a strong breakout similar to Bitcoin, or even a retracement after the breakout, directly breaking through this 0.618 area, then it is time for bulls to enter the market.

Currently, the main support point for Ether is around $3,500.

As long as it does not fall below this level in a day, it should be considered to be dominated by bulls.

Although this goal has not yet been reached, I also shared my analysis with you in yesterday’s show. The second target above is $3680, and I predict that the price will rise to this level to get liquidity from this airdrop. The next target is $3,700, which is in the 0.618 ratio range. If Ether manages to break above 0.618, what will be the next target for the bulls? Let’s take a more conservative estimate, with a 1:1 ratio exactly the previous high, around $4,100 to $4,200. This is a prediction for the price of Ether.

So, which point is broken to make people feel pessimistic? It is around the central axis of this triangle. How do you determine the central axis of a triangle? By drawing it, you can see a relatively standard triangle pattern appearing on the Ether chart. This level is critical and cannot be broken by a solid candlestick. As long as there is no breakout in a day, it can be mainly bullish.