Ethereum’s Rebound is “Getting Tired” as Analyst Eyes Move to $520

Ethereum’s price is currently in a rebound towards the downward trend. How deep will this rebound be? Will the rebound grow into a turn to growth? The short-term upward trend is actually a rebound toward the medium-term downward dynamics. So it’s a bit too early to be talking about a turnaround in the medium-term scale. For the continuation of the downward trend to become likely, Ethereum’s price has to fortify at the level of $8. After forming a turn there, there will be a good chance for the downward trend to continue. That will indicate that the bulls are a minority at that level. But....

Ethereum’s price continues its downward correction. It is smoothly approaching a decisive resistance line. When is the current downward movement most likely to end? Ethereum’s price has rebounded from the key level of $12.8. As we have assumed a day earlier, that mark has become a good point for traders to make their decisions. So the downward correction continues. Ethereum’s price is approaching the level of $11.5, which could become a support line for the upward trend: it’s the minimal target for a rebound toward the upward trend, which has started at $7. That’s why that mark is a likely....

The structure of Ethereum’s upward trend is disrupted. Which direction wil Ethereum choose? Will the downward trend continue? An upward rebound off the long-term resistance line took place. Thus, Ethereum’s price has a chance to continue its downward trend. But for that, it needs to break through the bottom limit of the flat: a rebound off it can very well happen instead. For an upward trend to form, Ethereum’s price will have to fortify at the top limint of the flat, which is at $7.8. The future direction will depend on how will the traders behave at the flat’s limits. A fortification and....

Ethereum’s price continues to go through an upward correction. This movement is now very likely to grow into a medium-term turn. A rebound or an upward trend? The upward movement is natural, because it’s common to have a rebound towards the previous trend before a new one starts. After this, we will either see a continuation of the downward trend or a turnabout. Due to its inability to fortify at the level of $8, Ethereum’s price keeps rebounding upward. In the short-term scope this rebound is equal to an upward trend. Consequently, the conclusion of this trend will coincide with the....

Ethereum’s price is approaching an important resistance line. There is a good probability of an upward rebound from that level. Alternatively, a turn to decline could form there. Will the upward movement continue? The main direction is up. As there was no turn on a medium-term scale, the odds are on the side of an upward trend. For a turn to decline, Ethereum’s price has to break through the level of $13.4. The key level that we found yesterday is updated, and is now at $13.4. That is the intersection point for a diagonal channel, Fibonacci level 76 and the limit of a short-term flat. A....