After weeks of walking sideways, Ethereum (ETH) finally broke through $ 1,600 and confirmed the breakdown of the historic top.

Do you want to know what to expect from this asset after this move and how to prepare for a big rise that may be coming?

Check out today's analysis!

Daily Chart

We will start our analysis by the daily chart where we can clearly see Ethereum making a strong break from consolidation and also the OBV indicator that shows the strength of a given movement indicating that the break was strong and we probably will not have a relevant drop anytime soon in this asset:

Daily Chart (D)

4 hour chart

If you are out of this movement, watch out for any price correction between $ 1,450 and $ 1,550, which is where we have short-term support:

Graph 4h (4H)
Graph 4h (4H)

Weekly Chart

Now with the strong break from the historic top on the weekly chart with a buying force candle formed. We can expect Ether between $ 2,000 and $ 2,200 over the next few weeks and in the event of a strong correction be aware of the LTA formed by funds 1 and 2 on the weekly chart:

Weekly Chart (W)
Weekly Chart (W)

My expectation is to see a movement up to US $ 2,000 – US $ 2,200 and then a correction back to US $ 1,300 to buy this asset again at a good price in relation to its market moment:

Weekly Chart (W)
Weekly Chart (W)

Ethereum and Bitcoin

It is also worth mentioning that the ETH / BTC has been showing a strong trend reversal in the last few months and could go up to 0.07 – 0.08 Bitcoins which would be more than 50% high which would bring the ETH / USDT to US $ 2,300:

ETH / BTC chart
ETH / BTC Weekly Chart

Read also: Forbes lists 4 cryptocurrencies that outperformed Bitcoin

Read also: MicroStrategy talks about Bitcoin to 1,000 executives; what can change?

Also read: BNB will shoot later this Wednesday, predicts analyst

Notice: The information contained in this document is not guaranteed, is not intended to be comprehensive and is strictly for informational purposes only. It should not be considered as an investment / trading recommendation. All information is believed to come from reliable sources. CriptoFácil does not guarantee the precision, accuracy, or completeness of the information in its analysis and, therefore, will not be responsible for any losses incurred.

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