The target of ETH price correction has been reached (Short-term)

The target of ETH price correction has been reached (Short-term)

ETHUSD
BTCUSD


From a technical analysis, the target of ETH price correction has been reached (Short-term).

Critical Pressure: 3550 USD

Critical neckline: 3410 USD (M head)

First target price of bears: 3290 USD (Correction)
Second target price of bears: 3170 USD (Correction)

First target price of bulls: 3930 USD (If price can break up 3550 USD)


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Analyst of cryptocurrency Yu-Shiuan Chen (CryptoQuant & Tradingview Taiwan)

Comment:

2022/4/11 updating:
Whales and miners get ready for the next phase - "raise prices, then sell chips"

Whales and miners have been very active lately (See the Whale Ratio and MPI) and they get ready for the next phase.

The signal for the initial sell-off phase has emerged, that is "raise prices, then sell chips".

However, based on historical experience, prices may fall first (correction or long-squeeze) and then turn upward.

Huge volatility is coming, please be aware of the risk of volatility and enjoy it.

Btw, market data like Exchange Reserve and ETH 2.0 Staked is still very good in the long run.

upload.cc/i1/2022/04/11/yv2gd3.png

Comment:

2022/4/11:
The signal for the initial sell-off phase has emerged, that is "raise prices, then sell chips".

However, based on historical experience, prices may fall first (correction or long-squeeze) and then turn upward.

Huge volatility is coming, please be aware of the risk of volatility and enjoy it.

upload.cc/i1/2022/04/11/LBj7vw.png