š Ethereum (ETH) ā Macro Outlook
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⢠Lately Iāve been zeroing in on Bitcoin (pretty sure most of you noticed) and basically ignoring ETH. Simple reason: itās been weak for months and just hasnāt interested me. Still, I know a bunch of you are allāin on ETH, so hereās my midāterm read:
1) Iām NOT a fan of the gigantic doubleātop on the weekly. These patterns rarely finish on a 1āweek chart, but this oneās special: ~400Ā days to form, neckline smashed on big volume and a solid deep retest. Measured move prints $800ā$1Ā 000 (call it $900 deadācenter, green line). Nasty for longāterm bags, but I call what I see.
2) That said, last week we saw real buyers step in once ETH dipped under $1Ā 400. Historically ETH will always retest both its yearly MA and the 200āday MA (white + yellow), even if it later slips into bear territory. No retest yet on this drop.
3) Because of that bid, Iām looking for a pop back into the upper purple block, broad target $2Ā 200ā$2Ā 800. If I held ETH, Iād unload it all there and let price decide whether we roll over into full bear or squeeze another leg up. IMO we tag that purple zone before ETH nukes to the $900 doubleātop target (bounce first, flush later).
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šø Price could still sweep last weekās low before heading up, but I doubt we get a straight knife to $900. Crypto loves a tiny liquidity grab under the ābuyā candle ahead of a local reversal. Might even skip it and break higher after some chop in the $1Ā 400ā$1Ā 600 pocket.
š¹ All based on todayās weekly chart; if Vitalik drops a bomb on Ethereum, weāll reassess. Until then, this outlook stands.
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