ETH has increased 25% within three last days. Will it continue with a bigger rally?
Following Wyckoff analysis, its seems that price action is in phase D: consolidation around the higher ranges. If these levels around 1700 holds, another leg up would happen.
Can Shanghai upgrade could be a catalyst for next big move of ETH?
Proposed Targets are in chart
PS: In my previous analysis (cf the link below), a Spring was missing. ETH didn't follow the Accumulation Schematic 2.
Following Wyckoff analysis, its seems that price action is in phase D: consolidation around the higher ranges. If these levels around 1700 holds, another leg up would happen.
Can Shanghai upgrade could be a catalyst for next big move of ETH?
Proposed Targets are in chart
- Target: blues lines for intermediate targets and blue zone for final one
- SL: below the EMA 50D
PS: In my previous analysis (cf the link below), a Spring was missing. ETH didn't follow the Accumulation Schematic 2.
Trade closed manually
Trade closed due to bad macro context (linked to banks)Trade active
ETH broke the upper resistance (UA level).Note
+5% but it's just a startNote
ETH did'nt go up much the last day because ETH/BTC has been decreasing.At this moment, ETH/BTC is at support...
It's expected that ETH would go up faster (along with BTC).
Note
ETH still hold the UA level, around $1715Note
ETH starts moving up with the whole crypto market.Can it outperform BTC this time?
Trade closed manually
BTC seems to form a double top pattern (on 4H TF). It would have a correction...Trade active
I re-enter because that ETH hold well the current level and because of the following chart:Note
ETH's 1W candle broke the current trendline (dashed black line) and retested it. Logically, prices will go to the next upper trendline (around $2400-$2500)Note
News: ETHEREUM SHANGHAI UPGRADE (MAINNET) ON APRIL 12, 2023Note
Local consolidation area is being broken out. ETH is ready to take-offNote
Slow but steady moves upside. If nothing bad happens on 12 April (17M of ETH being unlocked tommorrow), ETH would go up faster.
Note
Shanghai unlock didn't not trigger massive withdraw. ETH is up 4% and outperforms BTC today. Intermediate target 2024 is almost reached.+20% since entry at post's time.
Note
ETH are leading alcoins, please check my related analysis 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.