Ethereum -> Last Bounce Before A Strong Move

5. Aug. 2023Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Ethereum💪

If we are looking at the macro view on the monthly timeframe you can see that Ethereum perfectly retested the 0.768 fibonacci level in confluence with the previous cycle high so everything looks like we are starting the next major bullish crypto cycle.

With Ethereum once again retesting the weekly bullish trendline and also forming a continuation symmetrical triangle pattern I am just waiting for a bullish breakout before I then do expect more upside potential.

Looking at the daily timeframe you can see that Ethereum is once again retesting support at the $1825 level - I am therefore waiting for another bullish rejection and a break above the daily downtrendline and then also the daily timeframe is ready for a pump.

Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈

Thank you for watching and I will see you tomorrow!

My previous analysis of this asset: