Ethereum(
ETHUSDT) started to rise and pump as I expected in the previous idea.
Ethereum is currently trading in a Heavy Resistance zone($4,868(ATH)-$3,977) near the Potential Reversal Zone(PRZ)[$4,682-$4,506], Cumulative Short Liquidation Leverage($4,527-$4,452), and the upper line of the ascending channel(potential).
In terms of Elliott Wave theory, Ethereum appears to be completing microwave 5 of main wave 5. Main wave 5 could complete at the Potential Reversal Zone(PRZ)[$4,682-$4,506].
Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.
Before any conclusions, let's take a look at the ETHBTC(
ETHBTC) chart.
ETHBTC also indicates the end of the uptrend, and if the market falls, we can expect ETH and the tokens on the Ethereum blockchain to undergo a correction this time.
I expect Ethereum to bearish trend in the coming days and at least close the CME Gap($4,185-$4,080).
One of the tokens that we can use for short positions alongside Ethereum is the ENS token(
ENSUSDT). ENS is the decentralized naming system built directly on the Ethereum blockchain, simplifying crypto addresses into human-readable names.
Cumulative Long Liquidation Leverage: $4,145-$4,094
CME Gap: $3,461-$3,417
Note: Stop Loss: $4,780
Do you think Ethereum will create a new All-Time High(ATH) soon, or should we wait for a correction?
Please respect each other's ideas and express them politely if you agree or disagree.
Ethereum Analyze (ETHUSDT), 4-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
ETHUSDT) started to rise and pump as I expected in the previous idea.Ethereum is currently trading in a Heavy Resistance zone($4,868(ATH)-$3,977) near the Potential Reversal Zone(PRZ)[$4,682-$4,506], Cumulative Short Liquidation Leverage($4,527-$4,452), and the upper line of the ascending channel(potential).
In terms of Elliott Wave theory, Ethereum appears to be completing microwave 5 of main wave 5. Main wave 5 could complete at the Potential Reversal Zone(PRZ)[$4,682-$4,506].
Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.
Before any conclusions, let's take a look at the ETHBTC(
ETHBTC) chart.ETHBTC also indicates the end of the uptrend, and if the market falls, we can expect ETH and the tokens on the Ethereum blockchain to undergo a correction this time.
I expect Ethereum to bearish trend in the coming days and at least close the CME Gap($4,185-$4,080).
One of the tokens that we can use for short positions alongside Ethereum is the ENS token(
ENSUSDT). ENS is the decentralized naming system built directly on the Ethereum blockchain, simplifying crypto addresses into human-readable names.Cumulative Long Liquidation Leverage: $4,145-$4,094
CME Gap: $3,461-$3,417
Note: Stop Loss: $4,780
Do you think Ethereum will create a new All-Time High(ATH) soon, or should we wait for a correction?
Please respect each other's ideas and express them politely if you agree or disagree.
Ethereum Analyze (ETHUSDT), 4-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Note
If Bitcoin rises in the next few hours, Ethereum might see a smaller share of the gains due to the current ETHBTC dynamics.Trade active
Short Position was activated
I waited for ETHBTC to enter PRZ and then checked the ETHUSDT chart position
Currently, Ethereum is trading at the Potential Reversal Zone(PRZ)[$4,840-$4,726] and near Cumulative Short Liquidation Leverage($4,800-$4,733).
Also, ETH futures open interest hits an all-time high which could be dangerous for the continuation of the uptrend.
Stop Loss: $4,853
Cumulative Long Liquidation Leverage: $4,586-$4,512
Cumulative Long Liquidation Leverage: $4,451-$4,373
Trade closed: target reached
First Target Done
Note
Full Target Done
I appreciate your patience
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🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.