On a weekly timeframe, the ETH has broken its major weekly resistance at 383$ with big bullish volumes. The price then consolidated and did a pullback on this resistance that became a support for the price.
The price is now consolidating between this major weekly resistance and the 23.6 Fibonacci Level at 415$. If the price breaks above the 23.6 level of Fibonacci, there is a big probability that the price reaches the 38.2 Fibonacci level at 623$.
The weekly trend is still super bullish. My next targets are the following:
- TP1 (short term target): 415$
- TP2 (38.2 Fibonacci level): 623$
- TP3 (50 Fibonacci level and major weekly resistance): 792$
Disclaimer: This is a trading idea and not recommendation to buy or sell. Please trade based on your own convictions.