Ethereum is the most dangerous altcoin!
Hi all!
After the bull run in the entire cryptocurrency market that ended in August 2022, I told you that Ethereum would lose even more than Bitcoin. Right now, Ethereum is still the most dangerous asset. I recently showed you 2 altcoins, DOT and ADA, that have already generated insanely long signals. These assets are at the bottom, but ETH has pumped up significantly and at the same time it has to finish off the bear market. The bear market must be completed by a divergence between global waves 3 and 5. For this, the price must break to $900.
Locally, on the daily timeframe, the MACD showed us a confirmed bullish divergence. Considering that this divergence occurred in the center of bearish wave 3, it is not justified. I expect a local pump, a bull trap with the entire crypto market, but after that we can expect a huge dump. The target for wave 3 inside global wave 5 is the crazy target of $850, which is the 1.61 Fibonacci extension. Here is the most likely target for this wave. $850 will not be a global bottom for ETHUSDT, it is just the first significant stop. After this, sub-wave 5 will occur within wave 5, but we will talk about it when the price gets there.
Best regards, Ivan