Ethereum has had a previous great weekly close with what was looking like was going to be bearish but turned out to be a nice hammer candle, painting bullish momentum. Now, ETH has already painted its bottom wick on the weekly and already seems to be soaring.
It has made consistent higher highs since bouncing off the 0.786 Fib in July and has now 1st touched the $3242 resistance zone. From here it rejected a bit but didn’t seem to bounce off of $2,709 or even come back down to wick $2,910 which I thought it would. Not coming down to wick those levels of support signals extremely bullish momentum, that the bears couldn’t even come back down to hit those buy orders along the known level of support.
If this upwards trend continues for Ethereum my next long targets are:
TP1 🎯$3,431
TP2 🎯 $3,821 (2.618 Fib)
It has made consistent higher highs since bouncing off the 0.786 Fib in July and has now 1st touched the $3242 resistance zone. From here it rejected a bit but didn’t seem to bounce off of $2,709 or even come back down to wick $2,910 which I thought it would. Not coming down to wick those levels of support signals extremely bullish momentum, that the bears couldn’t even come back down to hit those buy orders along the known level of support.
If this upwards trend continues for Ethereum my next long targets are:
TP1 🎯$3,431
TP2 🎯 $3,821 (2.618 Fib)
