A few weeks back I gave you a chart with some higher targets for ETH , this chart is pretty self explanatory and simple. No ELLIOTT WAVE, NO FANCY JARGON, just a few support regions that will hold in order to move us higher!
Now I want to show you the hidden resistance (similar to my BTC chart)
In 2017 we saw the All Time High for many coins and tokens and this rise and subsequent fall has created numerous support regions with strength due to the parabolic movement and decline of the patterns. On ETH we see 3 strong support regions cross and form an almost unbreakable support zone, (where we are right now) something catastrophic would need to happen for this to break, and at this present time, it is looking really good for ETH to reach the $350.00 and beyond targets.
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimize your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
<3 Lisa
DISCLAIMER:
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
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Close up view of potential wave movement
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ETHEREUM droped back into the BUY ZONE and over the last couple of days has taken off to hit Target 1 - we have had a shallow retrace, and should head higher to attempt next target
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ETH is heading to the support region I talked about a month ago (and thought it would never get there) well here we are $20 away... a few traders on trading view are saying sub $200.... this is why we are holding here IMO
we have strong cross support here in 3 directions (shown on my TV chart above) and the waves are valid that this is ONLY the 4th wave retrace - same as BTC a 3rd wave usually retraces to 0.5 fib....
if this is a wave 3 the cross support is around the "golden zone''
the wave 1 here is valid as the subwaves are correct. Wave 3 doesn't need to be the longest - but it cannot be the shortest