Ethereum at a Decision Point.
Ethereum has seen an impressive run toward the previous ATH.
A few things can occur here.
1. This consolidation is more accumulation and will move up rapidly to the ATH ($1400). Sellers will need to become exhausted between 1050-1250 in order for this move to occur.
I watch Ethereum inflow to exchanges to determine the severity of a move down. If I see any large moves onto exchanges and price declining then I will exit my position.
2. Market will see a large sell off resulting in a 20-30% pull back, I would expect to see a wick/low of the 880~. Price would consolidate between 880-1020 for a day or two before retesting the initial breakdown from 1200. In order to exit my Ethereum I would need to see a move below 1150.
3. Ethereum and Bitcoin will become range bound between 1125-1250 and 38900-41500. This could occur for a week (5-7 days) before more volatility. During this period I would expect alt ratios to increase.
Key Metrics I track:
-Exchange Inflow/Outflow of Assets
-Stablecoin Issuance
-Lending Rates on DEFI platforms
-Funding rates for margin traders
-Long/Short Ratio
-Social Media Sentiment
-On-Chain Metrics; Gas Fees, Memepool, Large Token Transfers, Smart Contract Activity
A few things can occur here.
1. This consolidation is more accumulation and will move up rapidly to the ATH ($1400). Sellers will need to become exhausted between 1050-1250 in order for this move to occur.
I watch Ethereum inflow to exchanges to determine the severity of a move down. If I see any large moves onto exchanges and price declining then I will exit my position.
2. Market will see a large sell off resulting in a 20-30% pull back, I would expect to see a wick/low of the 880~. Price would consolidate between 880-1020 for a day or two before retesting the initial breakdown from 1200. In order to exit my Ethereum I would need to see a move below 1150.
3. Ethereum and Bitcoin will become range bound between 1125-1250 and 38900-41500. This could occur for a week (5-7 days) before more volatility. During this period I would expect alt ratios to increase.
Key Metrics I track:
-Exchange Inflow/Outflow of Assets
-Stablecoin Issuance
-Lending Rates on DEFI platforms
-Funding rates for margin traders
-Long/Short Ratio
-Social Media Sentiment
-On-Chain Metrics; Gas Fees, Memepool, Large Token Transfers, Smart Contract Activity
-The Truth is there for anyone willing to look for it-
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