In the past two months, we have seen some great gains being made on ETH/USDT and other Altcoins. ETHUSDT was able to make a high of 4800, after that the top altcoin started consolidating between the range of 4460-4780. After taking a look at the weekly chart I found the most recent trend to be over-extended. So I classified it as the 3rd wave of this bull cycle. I am expecting ETHUSDT to retest the 3989-4060 level in the next two weeks, where I will have my limit orders stacked and ready for the final wave of this bull market. If you noticed I have drawn Fibonacci levels based on a high that was never made before. I use this method to predict the highs and lows of cycles. I will explain it in an educational post very soon. A break of the 3886 level would invalid this analysis.
Comment:
ETHUSDT is following the projection drawn perfectly. We have seen the retest happen and the bounce just started.
Comment:
Ether is holding the support level, even after strong selling momentum. The projection is still valid.