ETHUSD: Technical rally is on the way to 13,500.

31 mag

Ethereum is on very balanced bullish technical levels on the 1W timeframe (RSI = 65.615, MACD = 296.600, ADX = 38.829) suggesting a healthy, sustainable uptrend. Just a few days after the ETF approval, ETH is breaking out of the March-April correction and in comparison with the previous Cycle, has completed step <7>. This is taking it out of the accumulation curve pattern and into the parabolic rally.

As you can see the two Cycles have so far been similar and the expectation is that the trend will continue and the new Channel Up will take ETH to stage <8>. That is a top on the 1.618 Fibojnacci extension, which is at 13,500.


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