ETH is currently attempting to distribute into a bottom.
Looking at history as a guide, I found that it broke out massively into a pennant after basing during its 2015-2016 time period. After consolidating from 2016-2017, it broke out once again- rallying a whopping 23,000% in a year. Notice that this major breakout occurred when the price found support right at the 2015-2016 base's prior resistance.
Fast forward to today, I find that we're in a technically similar situation. We've witnessed a sizeable basing period from 2018-2021 with a breakout that proceeded into a pennant currently being constructed. I believe we'll bottom entirely when we touch the 2018-2021 base's initial resistance, showing the completed pennant (around $1500).
It just so happens that the merge to ETH 2.0 is rumored to occur during August, right where I assume the completion of the pennant will occur. GLTA!
Looking at history as a guide, I found that it broke out massively into a pennant after basing during its 2015-2016 time period. After consolidating from 2016-2017, it broke out once again- rallying a whopping 23,000% in a year. Notice that this major breakout occurred when the price found support right at the 2015-2016 base's prior resistance.
Fast forward to today, I find that we're in a technically similar situation. We've witnessed a sizeable basing period from 2018-2021 with a breakout that proceeded into a pennant currently being constructed. I believe we'll bottom entirely when we touch the 2018-2021 base's initial resistance, showing the completed pennant (around $1500).
It just so happens that the merge to ETH 2.0 is rumored to occur during August, right where I assume the completion of the pennant will occur. GLTA!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.