FREE ETHEREUM ANALYSIS UPDATE May 5, 2022

May 5, 2022

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The perfect time for the rally❓

  • Yello, ladies and gentlemen😎!

💎Ethereum long-term trend remains bullish as the price continues to trade within the ascending channel. We already shared two scenarios of a pullback, and several days ago ETH tested the expected support at 61.8% Fibs.

💎While testing the $2700 demand area, ETH also approached the bottom of the channel. We already see 4 days of an uptrend, which certainly can be the beginning of a larger wave up.

💎As long as the daily closing price remains above the $2700, ETH will be moving higher. There are two resistance to watch in the coming days, one near $3500, another near $4000.

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