What if ETH breaks $4,000?

Richard Fetyko, CEO of altFINS:

In my last trading video, I demostrated how to find breakouts using New Local High indicator.

MNT is a good example (see chart below).

After getting rejected at $0.80 a couple of times, it finally broke back above that level (and above 200 SMA) as detected with New Local High indicator.

Now price reached our initial price target of $1.00 resistance for a solid +20% profit.

Here’s a tutorial for using New Local High indicator.

Also, in my trading video from Aug 1st, I talked about 4 ways to trade dips in Uptrend.

I love when a coin is in an Uptrend and pulls back to a robust support area.

What’s a robust support area? It could be when a horizontal support level also lines up with a 200-day Moving Average (200 SMA).

This worked perfectly with ChainLink (LINK), which was a trade setup in our Technical Analysis section (50 trade setups):

What if ETH breaks through $4K?

Ethereum (ETH), the OG of altcoins, has been an excellent performer this alt season.

Yes, I think we’re in an alt season. How could we not?! ETH is up 110% in 3 months and 2.7x since April low of $1,380.

Huge inflows into ETH ETFs and Treasuries have pushed the price up. It’s now again approaching $4,000 resistance where it got recently rejected.

We watch to see if it breaks above that. We used Fibonacci extensions to identify possible price targets: $4,250, $4,470, $4,780 and $5,165.

I hope it breaks out…cause if it does, alts are gonna go craaaazzy!!

(see trading video on how to use Fibonacci extensions)

Recall that the ATH is $4,880 from Nov 2021!

ETH: Where Could it Go?

Find this and 50 other trade setups in our Technical Analysis section.

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Trade setups for 50 coins include a technical analysis, trade entry, price targets and Stop Loss levels.

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