A bit of correction after price falls short of 4k. Look to hold support above 3685/50EMA if we drop below 20EMA. Further recovery is still expected which could begin at the start of next month. www.tradingview.com
ETH closes weekly well above the goal of 3685 and triggers a breakout off MACD divergence. A push to 4k+ is expected this week but may hold around 4k until the following. ATH for this chart is at 4868 with 4635 potentially marking the completion of a W1 bottom. www.tradingview.com
Not much movement as price holds above 20EMA. Weekly close was off a day so the marker has been adjusted. The goal remains at pattern resistance (3685). www.tradingview.com
Support remains strong at pattern resistance (3685) allowing 20EMA to cross zone. Although we're positioned below symmetric support eventual recovery is still assumed. Continue to use pattern resistance as the W1 close goal. www.tradingview.com
An attempt to flip 3810 fails with price dropping to pattern support before recovery. Another attempt is underway as MACD looks to push towards divergence. Holding above symmetric pattern is our best chance at maintaining this early breakout. www.tradingview.com
Price continues to hold between pattern resistance and 3810 forming into a symmetric layout. Early breakout seems very possible but wait to flip 3810 before assuming further recovery. Keep in mind that we're in a MACD convergence phase. www.tradingview.com
Price breaks ascending pattern and now holds between 3810 and pattern resistance. Weekly close is now expected at pattern resistance (3685) to maintain bullish momentum. Closing around 3671 could trigger correction for next week with 3371 marking bearish piercing. www.tradingview.com
A massive push increases price by $600 and positions us back at prior ascending resistance. From a long-term perspective this is a strong indicator that next week will be bullish as well. However expect the likelihood of dropping to pattern support for a new W1 close goal (~3550). www.tradingview.com
Price holds in at pattern support after EMA divergence gets rejected. Further recovery is possible if we can maintain within pattern. Still be aware of the chance of correction and the assumed W1 3k close. www.tradingview.com
Price remains below 3125 as short-term EMAs close in on divergence. A breakout here could send us out of pattern and to the next D1 marker at 3371. Keep in mind the assumed W1 close at 3k, especially if pattern breakout is rejected. www.tradingview.com
A strong push brings us to 3125 as price looks to keep above 200EMA. Holding pattern is possible which could lift us out of consolidation range. Refer to 3210 as next resistance if this occurs; the W1 goal at 3k will remain for now. www.tradingview.com
Another rejection at pattern places us back below 3k and short-term EMAs. Consolidation between 2878-3125 is still expected until EOW with a 3k close goal. Note that this keeps us below pattern but may trigger a quick breakout if close goes well. www.tradingview.com
ETH finds it's way back to pattern as we look to hold primarily above 3k. Our goal for the W1 inverse hammer can be also be adjusted to 3k which provides a better close position. The consolidation window is now assumed to be between 2878-3125 until the above occurs. www.tradingview.com
Rejection sets in at 50EMA/pattern support to prevent double-bottom recovery. Price now sits at 2878 low and poses a higher chance for further correction. Our hope now lies in a W1 inverse hammer which would require us to maintain consolidation between ~2875-2950 until EOW. www.tradingview.com
ETH pushes back above 20EMA and now sits between 20 and 50EMA. Recovery is expected to carry out into tomorrow and should reach ~3050-3075. However this will need to occur sooner than later given the 3k/pattern crossover. www.tradingview.com
ETH maintains it's position above 2878 while slowly rising to 20EMA. Start of recovery should occur soon if the double-bottom holds true. Note the close alignment of 50EMA and 3k which could make this zone tougher to break. www.tradingview.com
Price continues to hold above 2878 keeping us in position for a possible double-bottom recovery. We should expect this to carry out by or on 5/14 to brings us back above 3k. A slight ascending could still be in play if a correction occurs after recovery. www.tradingview.com
A tough rejection at 50EMA sends ETH down to the previous average low and outside pattern. We now look towards a possible double-bottom with recovery expected over the weekend. Unfortunately this could be the start of further correction, noting next support around 2800. www.tradingview.com