Hello Everyone!
a little Fundamental analysis :
The world is in a destructive state, inflation is rampant all over the world, Food crisis is right around the corner, Federal Reserve continues to raise interest rates to fight inflation, Russia has cut off the gas on Europeans, Also Russia has invaded Ukraine, And China has the same intention with Taiwan. All global markets, including Crypto are in the Bear market.
in this kind of circumstances, Ethereum cannot be an exception and fight this global trend.
Technical analysis :
As you can see in the picture, I have drawn the cycles of ETH/BTC, which are quite accurate, but you may be asked why the price of Ether is increasing even though it has been 3 months since the bear market?
The answer is clear: Ether needs the hype from the Merge to reach it's monthly liquidity.
I expect Ether to enter the center of the supply zone which has a lot of liquidity, And then probably nothing can stop Ether from falling.
I should also point that out within this supply area, a weekly supply has also been built, which makes this supply zone even more powerful.
From the point of view of Price Action analysis, The price is formed in two legs, which are very accurate(In terms of measured target and timing), after these two legs, price can become sideways, which according to the conditions explained above, such a scenario is likely to happen.
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a little Fundamental analysis :
The world is in a destructive state, inflation is rampant all over the world, Food crisis is right around the corner, Federal Reserve continues to raise interest rates to fight inflation, Russia has cut off the gas on Europeans, Also Russia has invaded Ukraine, And China has the same intention with Taiwan. All global markets, including Crypto are in the Bear market.
in this kind of circumstances, Ethereum cannot be an exception and fight this global trend.
Technical analysis :
As you can see in the picture, I have drawn the cycles of ETH/BTC, which are quite accurate, but you may be asked why the price of Ether is increasing even though it has been 3 months since the bear market?
The answer is clear: Ether needs the hype from the Merge to reach it's monthly liquidity.
I expect Ether to enter the center of the supply zone which has a lot of liquidity, And then probably nothing can stop Ether from falling.
I should also point that out within this supply area, a weekly supply has also been built, which makes this supply zone even more powerful.
From the point of view of Price Action analysis, The price is formed in two legs, which are very accurate(In terms of measured target and timing), after these two legs, price can become sideways, which according to the conditions explained above, such a scenario is likely to happen.
----------------------------------------------------------------
Liked the idea?
Comment, Like, Follow ✌