Ethereum Breaks Above MA200, Long-Term Bullish Cycle Confirmed

The 5-May week marked not only a major advance and recovery above the August/September 2024 low prices, but it also signals a recovery for Ethereum above MA200 long-term, weekly timeframe.

This simple signal confirms that the bulls are in. But there is more.

After breaking above this level, Ethereum closed two additional weeks green above it, both times wicking lower but recovering. So this level has been conquered, retested and continues to hold. This means that we have at least 6 months of bullish action confirmed based on the chart, technical analysis.

There are also some great signals based on the long-term.

» RSI: The weekly RSI has a strong reading (bullish) and produced a major higher low compared to June 2022. This signal matches what happened at the end of the previous bearish cycle.

» MACD: The weekly MACD also produced a long-term higher low compared to July 2022 coupled with a bullish cross. This indicator is trending full-upwards and leaves no room for doubt. Ethereum is set to grow long-term. Let me show you the MACD...

What would you do if you knew, with a high level of certainty, that Ethereum will trade at $7,000 or higher this same year? How would you take action? How best to profit from this knowledge/information?

Namaste.