While I was prepared and expecting a decline in the dollar price of Ethereum, I will admit that I thought a lower correction was possible.
See prior ETHUSD post on why I was expecting $260s.
In my latest ETHUSD post I pointed out a 5x low pattern that had recently developed. In the immediate term this led me to believe that the low could be in. Given the recent move the past two days, it would seem the worst has subsided and that up trend will be resuming.
On a HOLD of of $315 (green line & now very important level) I will be targeting the extension targets higher. Respectively, these targets are the 1.272 extension ($450) and 1.618 ($500) of the prior high to low swing.
I would love to hear comments on the chart and where you think we are headed. Trust the trend and manage your risk!
TN Trader
I think Ethereum will hit 400 by next Saturday and 500 mid July unless there is a real bull run!
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I can't help but think ETH will be propelled by BTC uncertainty over the next 6 weeks. It will be interesting to see how this plays out.
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I have no doubt it will hit 1000 before the year ends.
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Thank you for sharing thoughts, everyone.
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