Ethereum is still in the same situation as last week, therefore I don’t have much to say about the last days.
Unfortunately, Ethereum couldn’t profit from bitcoins spike last Monday and didn’t reach a new high. The alternative of another alt.(1) – alt.(2) remains on the chart, it may be frustrating to hear this again but as a professional Elliott wave analyst I have to track these scenarios.
But don’t be fooled, there’s still hope for Ethereum, and I remain optimistic about the upcoming weeks.
The moment for Ethereum will come as soon as the bitcoin dominance cools down, I recommend checking it out because we are trading right below a significant two-year high. Our wave (iii) target remains unchanged at 2445$, and it’s possible that we could reach this by the end of this month.
Much more interesting right now is the sudden bullish impulse in Solana, and I am thrilled to see if Chainlink, Fantom and our other altcoins manage to catch up. I recommend reading our last articles on these coins.
I recorded very detailed videos on our YouTube channel about them, feel free to check them out!
Please note that we are already invested in Ethereum since the 15th of June 2022, back then we announced our first positions here on tradingview.
Long Ethereum (ETHUSD)
AVERAGE EXECUTION PRICE: 1’057.6$
LONGTERM Target: +8’000$