$ETH
Added 2025-05-14 11:47:23 +0000 UTCThis beast has not only burst through the 200 WMA at $2400 but has now hit the 200 Day MA at $2700 in this bounce.
This is +100% gain since its low at the end of April.
And another of example of what happens when a strong position is in a deep oversold state and below its 200 WMA.
It is difficult to call whether or not this Wave 1 is complete because on the daily chart here, it is hard to see 5 waves but arguably on the 1hr chart I can.
So we need to be open to the possibility that Wave 1 is not complete yet.....but rejecting at the 200 Day MA at $2700 would be the perfect spot to pull back for Wave 2 (as shown)
I know many will want to add here after being convinced that $ETH can move strong, so adding when the price pulls back for Wave 2 makes sense around $2000, until then it's time to wait.
I really like how the Wave 3 target aligns with the previous high at $4100 at the 1.618 Fib.....a level I believe $ETH will have no issue returning too, a position I have not changed on.
Comments
$5400 in 2025 could potentially make me shed multiple tears LOL
Clint M
2025-05-14 14:20:09 +0000 UTCCheck out BORG. Native token of SwissBorg. Promising TA and fundamentals
DR28
2025-05-14 13:41:56 +0000 UTCAmazing.
safoo
2025-05-14 13:17:46 +0000 UTCThis is also fueled by USD weakness
Magopool
2025-05-14 12:46:06 +0000 UTCSeeing how ETH acted as an undervalued stock has me excited for NKE + AMD
Chubsters
2025-05-14 11:59:22 +0000 UTC
