On December 10th, I mentioned that Ethereum has an expectation of a 5-wave upward movement. I'm wondering if everyone has kept up? For those who have, there's already a profit of 200 points. What should Ethereum do next?
Looking at the 1-day trend, Ethereum is still in a fluctuating upward movement. The Bollinger Bands are opening and parallel upwards, and the price is currently running above the middle band, so it's quite clear that it remains in a bullish trend. The price is under pressure from previous highs, causing some pullback, and in addition, the MACD momentum bars show some divergence, indicating a decrease in upward momentum. There is an expectation of a pullback.
Looking at the 4-hour level for a buy point during the pullback, the 3900 range is also the area with the highest trading density. The price may pull back to the 3900 area before rebounding to test the previous high of 4060.
