abusalman333
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My Future Expectation for Ethereum
In the name of Allah, the Most Gracious, the Most Merciful
The analysis of Ethereum's price is as follows:
By comparing the Ethereum chart to the Bitcoin chart, it becomes clear that Ethereum has a stronger positive position in the future. The currency has not achieved a clear new peak above its historical peak at 4868; what happened was merely a false breakout followed by a price decline later.
On the contrary, Bitcoin has recorded several new peaks in the past period, which makes us expect that the next phase will be, God willing, the phase of Ethereum achieving new peaks.
On the daily timeframe, I expect the price to head towards 3575 to complete the head pattern, then start forming the right shoulder. If the neckline is broken, the expected target will be at 4527, God willing. Alternatively, it may choose to retreat from 3447 to form the right shoulder to target 4308, if God wills.
(The positive head and shoulders pattern fails below 2900.)
This positive formation gives Ethereum the opportunity to form an impulsive engulfing on the monthly timeframe, provided that the monthly closures fall within the range of 3575 – 3915.
Then it can be said that Ethereum is preparing to break its historical peak of 4868, targeting levels of 5915 and then 7331, and Allah knows best.
In the name of Allah, the Most Gracious, the Most Merciful
The analysis of Ethereum's price is as follows:
By comparing the Ethereum chart to the Bitcoin chart, it becomes clear that Ethereum has a stronger positive position in the future. The currency has not achieved a clear new peak above its historical peak at 4868; what happened was merely a false breakout followed by a price decline later.
On the contrary, Bitcoin has recorded several new peaks in the past period, which makes us expect that the next phase will be, God willing, the phase of Ethereum achieving new peaks.
On the daily timeframe, I expect the price to head towards 3575 to complete the head pattern, then start forming the right shoulder. If the neckline is broken, the expected target will be at 4527, God willing. Alternatively, it may choose to retreat from 3447 to form the right shoulder to target 4308, if God wills.
(The positive head and shoulders pattern fails below 2900.)
This positive formation gives Ethereum the opportunity to form an impulsive engulfing on the monthly timeframe, provided that the monthly closures fall within the range of 3575 – 3915.
Then it can be said that Ethereum is preparing to break its historical peak of 4868, targeting levels of 5915 and then 7331, and Allah knows best.
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