Ether market analysis

As I’ve shared with you before, I’m expecting Ether to backtest a previous high in history, around the 3530 range. Indeed, at the end of the week, Ether retraced to this point, and it was at this point that I cut in. But because Ether’s rally wasn’t particularly strong at the time, it didn’t make much.

Looking at the short-term cycle, there is one curve worth paying attention to. I tend to raise my stop loss even further after ETH breaks out of this curve. Because I cut in at the position of 3530, and this is also a turning point for long and short. If the price falls below this level, I will choose to exit the market with a draw. But if the price breaks up, I would consider doing some small consolidation before the breakout, which can create the conditions for an upward breakout.

From a medium- to long-term perspective, if Ether falls below the 3530 level, then the next key support level will be 0.618 for the big cycle, around 3350. This level is a key rebound zone in the medium term and could provide good trading opportunities. As for the moment, I am not inclined to be bearish, but rather expecting a breakout of Ether.

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