ETHUSD - Putting things into perspective.

"Simplicity is the ultimate sophistication."

-Leonardo Da Vinci-

ETH/USD

1. Decided to clear all the tecnhical analysis in my charts to provide a fresh perspective on the current state of Ethereum. For this purpose I chose to look at the Weekly chart in order to appreciate the magnitud of the bullish push towards ATH.
2. I have drawn several key Support/Resistance levels and as we can see, we clearly hit a resistance at previous ATH at 1340$, something which can cause Ethereum to consolidate or try and retest it in the short term.
3. If price gets rejected at this key resistance, the next stop I am looking at is at 1000$ and possibly even the 900$ Weekly Support.
4. Still expecting a huge move on Ethereum if it can sustain the bullish momentum and break this resistance.

Remember, nobody can predict the price of cryptocurrencies accurately and anybody claiming the opposite is probably trying to claim your attention and your money. Predicting the price of cryptocurrencies is akin to predicting the weather; the further into the future you try to predict, the bigger the deviation and error rate will be. This is due to the fact that in a complex system involving thousands of variables, some which are know and others which remain unknown, an accurate prediction can only happen if every single variable is correctly accounted for.

Chad trader from ClearThoughtCrypto

Posted Using LeoFinance ^Beta