Ethereum on a 4H chart - what to expect
As ETH/USD made a new ATH at $2,151, we expect a retracement around 0.5-0.618 Fibonacci Retracement, because the previous candle closed around $2,200, showing rejection at that level before continuing to a new higher high.
Overall, Ethereum has made another bullish signal for the bullish market action trend that has been building for many weeks.
Last month, ETH/USD made a higher low around $1,550, after which the market began to rebound before it reached a new all-time peak around $2,140.
As ETH/USD made a new ATH at $2,151, we expect a retracement around 0.5-0.618 Fibonacci Retracement, because the previous candle closed around $2,200, showing rejection at that level before continuing to a new higher high.
Overall, Ethereum has made another bullish signal for the bullish market action trend that has been building for many weeks.
Last month, ETH/USD made a higher low around $1,550, after which the market began to rebound before it reached a new all-time peak around $2,140.