Hello everyone,
How are you all? Let us look at the chart that I have been sharing for quite some time and that is the pair of Ethereum and USDT.
The reason I have been sharing this was because the flow of money will probably come into Ethereum after bitcoin dominance starts to decline and that's why we have shifted to Eth chart and where we can see that the weekly resistance is about to get broken up.
Have a look at the screenshot below,
The Ethereum was trying to break this in March this year itself and that was the peak for crypto market before the crash was seen in the entire market.
So it is a 9 months time approximately after which Ethereum has come to test this resistance where we are seeing it trying to break it. The more interesting thing that we must not miss is that Ethereum was trading above this level in December 2021.
Hence it has been 3 years since we have seen Ethereum above this level and that is the reason I am very bullish once Ethereum breaks it up. I even expect a new all time high and that will be very much possible.
5k will be surpassed easily and that is where I will start selling my Ethereum which I recently bought at 2300 USD. What are your thoughts on the current market situation. Are you frustrated?
Thank You