$ETH Monthly chart | Macro Perspective
I believe this mid-term correction is over. We took out the Aug-Oct 2023 lows, printed a giant reversal candle and held the mid line of the Channel
The bottom is in and we're gonna have a good mid-term bounce 📈
This can be a Dead Cat Bounce or a bullish Rally to a new ATH, but given the weakness of $ETH this cycle and the fact that there're only 7 months left to the cycle, I'm leaning towards the dead cat bounce scenario.
(read my 🧵 about $ETH and its macro structure)
So in the next few months I'm expecting a good rally: $ETH & its ecosystem will bounce. My first target is $2500 🎯
📍 $2700-3200 is supposed to be a Rejection Zone (lower high) 🔨
👉 To be fully bullish and expect new highs we need to break through that Zone and break out of the Channel
Post #11778
53.1K
CryptoBullet Let's talk about $ETH 🧵 I don't understand #Ethereum's poor performance this cycle. ETFs are not willing to buy it. Staking ETF can be a game changer but we're running out of time (~ 160-280 days of the cycle left)
