🔥 Ethereum Double Bottom: What's Next?

٢٣ نوفمبر ٢٠٢٢

Last week I made an analysis on ETH and the fact that I expected more short-term selling. Both bearish targets have been hit, congratulations if you took the trade.

At the moment, ETH is on a crossroads between a bullish or bearish break out. If ETH fails to break through the purple resistance, we'd most likely retest the fear-lows around $1075. However, if we manage to get a 4H candle close above the purple resistance, I can see us move all the way to $1290.

Be aware that the longer-term outlook for ETH is still bad. So expect any bullish move to be sold off eventually.