Using my usual channel charting technique I got this scenario for ETH.
I know it looks nuts and I'm not an ETH follower, just pointing out the chart channel trajectory.
Reading what is displayed in front of my eyes... the price can go above +6000 if the market conditions keeps trending up before 5 of November.
No other indices and cryptos where used to arrive to this chart.
MAGENTA CHANNEL
This is a curved projection channel created upon a bounding box. The chart is presented over a LOG price scale. For its creation we use 3 "curved line boundaries" that cover the center, upper and lower limits for potential movement. Even if this not an attempt to forecast a trend or future scenario, it allows to have an easy to read view of probable limits and oscillation parameters.
Just sharing my personal charts for learning purposes only. This is not an investment recommendation.
I know it looks nuts and I'm not an ETH follower, just pointing out the chart channel trajectory.
Reading what is displayed in front of my eyes... the price can go above +6000 if the market conditions keeps trending up before 5 of November.
No other indices and cryptos where used to arrive to this chart.
MAGENTA CHANNEL
This is a curved projection channel created upon a bounding box. The chart is presented over a LOG price scale. For its creation we use 3 "curved line boundaries" that cover the center, upper and lower limits for potential movement. Even if this not an attempt to forecast a trend or future scenario, it allows to have an easy to read view of probable limits and oscillation parameters.
Just sharing my personal charts for learning purposes only. This is not an investment recommendation.
Find some of my resources here:
heroselohim.notion.site/Cryptos-a4564cce70aa45f4b0cbd9823e691f80
heroselohim.notion.site/Cryptos-a4564cce70aa45f4b0cbd9823e691f80