#EthereumFuture
Hey everyone! I’ve just finished a deep dive into $ETH—let’s break it down:
In my last update, I pointed out a potential bottom for ETH (see the first screenshot) and suggested starting accumulation. That level turned out to be the exact local bottom, and since then, ETH has surged by 34%.
At the moment, there are several CME gaps near the current price (second screenshot), which I expect to be filled soon.
ETH is now approaching key Fibonacci resistance (third screenshot), making this a smart area to consider partial profit-taking. If price consolidates and gets rejected here, we could see a pullback toward the weekly order block near $1200. While I view this scenario as less likely, it’s still wise to keep some USDT ready. To invalidate this bearish setup, ETH needs a strong daily close above the resistance zone.
Since May 2021, ETH has lagged behind BTC, but it's now sitting on strong monthly support (fourth screenshot). This could mark the beginning of ETH outperformance in the coming months. If that support breaks, however, it could spell trouble for ETH’s structure.
In summary, I’m expecting a short-term dip (there’s significant liquidity under $1700), followed by a strong upward move.
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#$ETH
