✴️ Ethereum vs Bitcoin | $3,500 Medium-Term + Short-Term Update

30 de out. de 2023

Bitcoin is hitting new highs daily and recently the highest level since May 2022.
The last time Ethereum hit a new high was in April 2023, no new highs... What is happening here?

Ethereum will NOT stay behind... It is surely taking its time but the chart continues to be really strong.

Let's start with the basics and medium-term, this is the mirror image:

➖ Left side is the "down wave".
➖ Right side is the "up wave".

👉 1st target is set at around $2,600.
👉 2nd target is set at around $3,500+.

Let's move to the short-term update.

Ethereum (ETHUSDT), everything is ultra-bullish, we just have a long consolidation+corrective phase.
A higher low is in place now in October vs March.

Trading volume daily is clearly green with very strong oscillators and a bullish continuation pattern.

While Ethereum hasn't hit any new highs recently it won't stay behind, the chart is pointing up.

When will it move?

This is a great question... Let's see what we can find by looking at some charts...

I don't know, I don't have anything specific right now for Ethereum but, what I do know is what the rest of the market is doing, the current bias and trend... We are going up short-term. It can move within days most likely but it can extend to weeks, worst case.

Namaste.