Ethereum has found new highs in May during a period of price discovery and everybody losing their minds over the NFT craze. From the peak hype, we’ve fallen about 60% and have been capitulating ever since (about 1.5 months).
ETH has found support along the 1.0 Fib level at $2,022 and this pattern looks the exact same from the pullback we saw in January 2021. We capitulated back down to underneath $1000 briefly and eventually found support along the $1000 psychological level of support.
This essentially is the same type of pattern, just on a bigger scale and time frame.
I believe the bottom is in at $2,022 and we’re going to pump up towards the 1618 Fib level at $2,709.
As always please do your own research, I am not a financial advisor.
ETH has found support along the 1.0 Fib level at $2,022 and this pattern looks the exact same from the pullback we saw in January 2021. We capitulated back down to underneath $1000 briefly and eventually found support along the $1000 psychological level of support.
This essentially is the same type of pattern, just on a bigger scale and time frame.
I believe the bottom is in at $2,022 and we’re going to pump up towards the 1618 Fib level at $2,709.
As always please do your own research, I am not a financial advisor.
