Good rebound of Ethereum, which follows Bitcoin after the violent return to the 200 average which from May to July pulverized about 50% of the value.
Ethereum, as I have already analyzed several times in my articles, has, in my opinion, more “room” to grow for the future, supported by the words of big banks and investment funds, that is, those that we small investors must follow.
From a graphical point of view, the € 2000 threshold has been quietly broken, as well as that of € 2200.
Today, Ethereum is € 2582 and the bullish impulse is really very extensive; I see very likely profit-taking and a pullback in the Fibonacci 382 zone and then resume its rise.
The target is obviously the all-time high of € 3600 reached last May. With crypto volatility, it is possible that it will also happen by 2021.
As usual some references:
If the price were to undergo a pull-back, the interesting levels to increase the positions are 2262 (coinciding with the 382 Fibonacci level) and the 1416 € level tested 3 times between March and July.
- € 2800 (Fibonacci 618)
- € 3000 (psychological threshold and important volumetric level)
- € 3600 (all-time high and start of the May sell-off)
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