Chart of the day

Where do we stand fundamentally?

Ethereum is sharing the faith of all the crypto market which is in the sideways consolidation after it has reached the peak of the reversal from the bottom. I am inclined to see a new swing higher from this support.

Ethereum is supported by 2100 level for a ride to 3600 resistance which is the most important resistance for a continuation higher in the third upside long-term wave and to complete ABC pullback in the second wave. We need to see a break above 3600 for the upside continuation in the third upside wave to happen.

An invalidation level of a third wave long-term extension higher and a bullish cycle is 1800. As said this extension higher could lead to 5000 and 7000 target in the medium-term to long-term if we get a confirmed break above 4000.

_{Try a long trade entry with a stop loss below 1800 to target 3600 and higher upon a break above 4000.}