✴️ Ethereum At $2,000 | Dropping For 6 Weeks Reveals Disbelief

16. Apr.

Let me start by saying that Ethereum is headed toward a price tag of $2,000 in a matter of days or weeks, are you ready?

The fact that Ethereum has been drooping for six weeks straight yet people are waiting for new highs shows that we are in a disbelief phase within the current market cycle.

Here we have a very interesting 5 steps sequence, let's dive into it shall we?

#1 & #2) Early November 2021 Ethereum produces a peak, a new All-Time High and immediately goes red. Notice that the market is at its most bullish when it hits a new ATH technically speaking but also the highest bearish potential is open. Notice that the best time to sell is when prices are trading high up and near resistance. If we do not predict a reversal, by the time the market gives full confirmation is already too late.

#1 & #2) Early March 2024 Ethereum produces a peak, a multi-year high and immediately goes red. It starts dropping with bearish momentum growing last week.

#3) After the November 2021 ATH, ETHUSDT moves below EMA10 weekly as it goes red. The break and close below EMA10 confirms the top is in and a new bearish wave starts. This leads to the "first drop."

#3) Last week, 8-Apr. 2024, ETHUSDT moved below EMA10 weekly, this confirms the top is in.

#4 & #5) The first drop leads to a bounce, a dead-cat bounce, followed by a lower low; a bearish impulse.

👉 #4 & $5) Present day, we are now waiting for the "first drop." This drop can lead to a ~2,222 - 2,400 target followed by a major flush reaching $2,000 around MA200. It can go lower but this is the same support.

Namaste.