I said as early as June 24 that Ethereum would most likely retest the lows again, but it would not break below the June 6 low of 1505; after that, it would rebound. Sure enough, on June 26 it dipped as low as 1512. After completing the second test, it immediately turned back up. Now it’s already back above 1700.
What’s interesting is that this time, the decline from May 6 to June 6 looks very similar to the move from January 14 to February 6—whether in terms of chart structure or trading volume.
Since the pattern in the first half is similar, the way it plays out afterward is very likely to be about the same. After the previous bottom was formed, the rebound lasted about 70 days and ended right around the midpoint of the prior downtrend range. So this time, I’m also using the same logic:
The rebound target is likely around the 50% retracement of the decline from May 6 to June 6—around 1920. In the derivatives/futures market, there’s a large amount of liquidity built up between 1850 and 1920, and the upper boundary aligns closely with 1920. So the target is very likely to fall within a range of roughly ±20 points around 1920. In terms of timing, the rebound may last 60 to 80 days, which suggests it could end around August. $ETH
What’s interesting is that this time, the decline from May 6 to June 6 looks very similar to the move from January 14 to February 6—whether in terms of chart structure or trading volume.
Since the pattern in the first half is similar, the way it plays out afterward is very likely to be about the same. After the previous bottom was formed, the rebound lasted about 70 days and ended right around the midpoint of the prior downtrend range. So this time, I’m also using the same logic:
The rebound target is likely around the 50% retracement of the decline from May 6 to June 6—around 1920. In the derivatives/futures market, there’s a large amount of liquidity built up between 1850 and 1920, and the upper boundary aligns closely with 1920. So the target is very likely to fall within a range of roughly ±20 points around 1920. In terms of timing, the rebound may last 60 to 80 days, which suggests it could end around August. $ETH