July 2025 - Marker DAO (MKR) to $10k before Ethereum

25 Jul

The above forecast is predicted to strike before October 2025. Ethereum will never reach $10k in its lifetime, which a study for another post.

A 75% correction is shown on the above 6 day chart that began in March 2024. A number of compelling reasons now exist for a strong upward move.

Support and resistance

Look left, price action confirms support on past resistance, which follows a strong positive divergence. The resistance has held since May 2022. Incidentally on the topic of divergences, on the same time frame with the same settings, Ethereum prints a double negative divergence over the same period. (see below).

The trend

Both Price action and RSI resistances have broken out. RSI confirms a trend reversal on past resistance.

A Cup and Handle pattern confirmation

The forecast is derived from the Cup and Handle pattern topping out at around $10.5k, however it is not suggested to wait until this area before profits are taken.

Is it possible price action continues to print lower lows? Sure.
Is it probable? No.

Ww


Ethereum 6 day double negative divergencies

25 Jul

Dagangan aktif

Active on publication.

3 Ogo

Pesanan dibatalkan

Will cancel this one for the moment.

On the main chart price action is a long above 2100, except we're now closing the weekly under that level.

Support and resistance 101, past resistance must act as support before continuation. The chart now violates that rule. Can re-visit the chart should it change.