Bit of an alternative analysis here, but how many fucking times have we seen people charting price action eh.
Looking at MACD we get some fairly resounding information here which help us predict some possible future price movements.
We can see our moving averages have have respected our fib levels and are converging just perfectly in time here on our daily...
Ethereum overdue a correction here after great bullish move. Expecting it to retrace to these confluxing areas of support and fib levels. Worth noting that this retracement may also play out more shallow as bullish sentiment begins to creep back into the market.
Just about to complete ABC corrective pattern of wave 4 - 8400-850 target for completion.
Fifth leg of C wave will find its way to horizontal on trend line support at 7.2-7.3k.
This type of correction must precede any real and natural future uptrend.