Ethereum, ether, ETH

Looks like another bull market is upon us

After the October/November 2022 washout, and the next 6 months of flushing out any late remaining holders who simply wanted out, Ethereum in particular, one of the two big boys of the crypto world, have built out mega bottoming bases, had a big run into April, has been setting another another multiweek pullback base, and are now coming out the right side of this base.

Ether is one of the most exciting technical setups right now. As you can see, it has found strong support at it’s long term 200 week MA, and has taken out the pivot form 3 and 4 weeks prior that was set. If this gains traction, and ultimately comes through the top of the 2100-2200 level, we would have a technical target of around $5500. What seems almost illogical now saying this, prior Ether bull runs that gain traction have far exceeded this percentage. Exponential assets move in exponential percentages, and ETH is an exponential asset.

Thanks for reading.