- Ethereum trades 15.5% higher as crypto sentiment surges on Monday.
- The price looks to be heading toward higher levels after 150.0 was broken earlier in the session.
ETH/USD 4-hour chart
Ethererum has moved in a classic Elliott Pattern in the first part of the move marked in black. Now it is time for the price to accelerate higher as this move could be the potential wave 3 which is normally the longest. The price has seen a wave 3 wave earlier but sometimes these waves can be subdivided into waves between waves as Elliott Wave principle is fractal.
What this means is that sometimes the initial waves could just be part of a bigger picture and if the 161.% extension or the 261.8% is hit this will most certainly be the case. The great news is that there seems to be lots of volume behind this move higher so it has been backed by the market.
Elsewhere the indicators are bullish too, the RSI has pushed into bullish territory and the price has pushed through the moving averages. The only concern could be a short term correction before a longer-term continuation.
|Today last price||165.42|
|Today Daily Change||22.53|
|Today Daily Change %||15.77|
|Today daily open||142.89|
|Previous Daily High||145.97|
|Previous Daily Low||140.8|
|Previous Weekly High||150.33|
|Previous Weekly Low||123.94|
|Previous Monthly High||252.76|
|Previous Monthly Low||89.65|
|Daily Fibonacci 38.2%||142.77|
|Daily Fibonacci 61.8%||143.99|
|Daily Pivot Point S1||140.47|
|Daily Pivot Point S2||138.05|
|Daily Pivot Point S3||135.3|
|Daily Pivot Point R1||145.64|
|Daily Pivot Point R2||148.39|
|Daily Pivot Point R3||150.81|
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