Ethereum (ETH)
By Thu, Apr 29, 2021
Today’s Chart of the Week comes directly from the blazing hot crypto market.
But it is not Bitcoin.
However, this crypto is outperforming BTC pretty handily.
That’s just one reason we are looking at Ethereum (ETH) today.
We’re seeing fantastic relative strength and momentum in the single hottest market around.
But more importantly, the last time we looked at ETH, we called it to 2250 as the first leg of the breakout.
Now it’s breaking out again, and we are once again long on ETH so long as it’s above $2250 with a profit target set at $3,800.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
