ETH/USD 4H

As you may already know yesterday we received some good news regarding the hike rates that lead to a trend reversal and a little rally. However, Powell as always made a dovish speech trying to calm the market.

As you can see in the chart above, ETH is in a clear uptrend trying to test $2.8K resistance. In the current state I believe we also need BTC to go up and break its own resistance. If it achieves it, ETH will definitely break the resistance too and I wouldnt be surprised if it tries to test $3.4k resistance too.

The clock is ticking, FED is getting out of time to do things right and avoid a recession. US elections are also closer. Lot of bullish things for the market are adding telling us that a bigger rally could come in the coming months.

The only bad news I can feel around are war news regarding Iran, etc. but I have the feeling that somehow they talked under the curtains to avoid escalation.

Bigger Bull Run on the Horizon?

Disclaimer: The concept and ideas in this post come from my own thoughts and everything I've seen online during my three years in crypto. Any resemblance is purely coincidental.