Ethereum remains bearish on its 1D technical outlook (RSI = 40.440, MACD = -154.200, ADX = 29.206) but sits at the bottom of its 1 year Megaphone. This is the same pattern that Bitcoin traded on last year and Gold during its most recent Bear Cycle. In all instances, when the price found support on the MA50 and broke over the Megaphone, it reached the 2.0 Fibonacci. According to this, it won't be surprising if we see ETH at 9,000 by the end of the year.
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