Ethereum Price Looks Bullish, But Only On The | Crypto News
Ethereum reveals indicators of strength, but the bullish image only emerges on an inverted chart. On the usual view, the downtrend stays intact until key resistance is reclaimed, making the current optimism conditional.
Inverted Structure Reinforces Ethereum Bearish HTF Outlook
Presenting an inverted chart in a latest update, Mizer explained that he has been short on Ethereum for a number of days, outlining what he believes might unfold on the larger time body (HTF). Mizer clarified that this doesn’t essentially plan to maintain the full place to his projected targets, as he prefers focusing on decrease time body (LTF) alternatives given the problem of forecasting HTF strikes in the current macro setting.
According to Mizer, Ethereum’s HTF construction stays clear: a distribution part adopted by constant breakdowns since the $5,000 peak. A parabolic curve fashioned off that top is a key indicator of this sample, noting that the price has revered it for months. Until that parabola is decisively damaged and price holds above it, the broader downtrend stays intact.
Zooming into the current price motion, Mizer highlighted a strong impulse transfer into this zone marked by a purple line. This space represents a important assist/resistance flip on the inverted chart: beforehand resistance, it was damaged and now features as assist. Mizer is now intently watching the small blue box on the fitting aspect of the chart, which represents the current consolidation following the impulse.
Two Scenarios From Consolidation
The analyst additional explained that from the current consolidation zone, there are two main situations unfolding: either continuation after a shallow pullback, or a transient faux breakdown adopted by a swift reclaim before the next leg larger on the inverted chart, which might translate to additional draw back for ETH itself.
He described the purple path on his chart as his “ideal” bullish state of affairs on the inverted construction, basically monitoring price as it continues to respect the long-standing parabolic curve. As long as that parabola stays intact, the broader bearish trajectory stays his base case.
Regarding targets, he divided expectations into short- and long-term goals. The rapid goal sits around $1,700, which he views as the first logical space to take earnings and monitor for a potential response strong enough to problem or even break the parabolic resistance.
The closing goal lies close to $1,400, representing the bigger extension if momentum totally performs out. However, he emphasised that the setup can be invalidated if ETH loses the key flip zone and begins accepting below it on the inverted chart, a transfer that would break the parabola and probably signal a broader development reversal.
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