#EthereumFuture ETH is in Fibonacci resistance (check third screenshot) which is a good area to book some profits. If ETH consolidates here, then rejection will take ETH to the weekly OB sitting at $1200 zone. In my opinion, that's highly unlikely but keep some USDT ready to buy ETH if you get that price. Bulls must close a daily candle above that resistance in order to invalidate this idea.
ETH has been underperforming BTC since May'21. It's now in monthly strong support (check fourth screenshot) to bounce. That's why, I 'm expecting ETH to outperform BTC in the coming months. Breaking this zone will be destructive for ETH.
So, all in all, I'm expecting a small pullback on ETH (lots of liquidity lies under $1700). After that, ETH should pump hard.
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