After an amazing rally he set up Ethereum on the road to possible fresh ups of all timeAltcoin is now in the face of something that could make it complex for the newly discovered path. It boils down to the CME gap, which formed on the way, and historically CME gaps are filled before the stubborn. In this case, Luka CME sits almost 15% below its current price and it can mean Eth It is for failure.
Luka CME is waiting for $ 4,080
The cryptographic analyst has indicated That the price of Ethereum may be in the face of a lot of resistance after collecting levels, which are not perceptible since 2021. There is also a CME gap, which threatens to drag the price back before the stubborn rally can continue.
The first is the resistance, which is currently created in the zone around USD 4,868. This is the previous high levels of all time, so of course the bears begin to grow pressure at this point, which can ultimately lead to rejection of prices. There is also a potential reverse zone around the 4680 USD area.
Gap CME sits very low at 4185–4080 USD, which suggests that the price may return to this level to close the gap. If this happens, the slow long positions can be trapped as the correction is played, and then it turns towards high levels again.
Interestingly, the analyst also indicates the fact that the price of Ethereum seems to play the theory of Wave Elliot. According to Ethereum analysis, in the meantime, the microwave 5. It suggests that the current upward trend is only the beginning and that the main wave 5 has not yet begun.
By using the theory of Elliot wave, Wave 5 is expected to be the final wave before the bear. However, this is the main wave, which historically led to fresh ups of all time. If the stubborn rush is continued, Ethereum can quickly exceed $ 5000.
There is also a possibility of deeper correction if the bull fails Keep control over USD 4,000. The analyst indicates that the next CME gap is to be filled with only 3,417–3461 USD. But if the price is able to exceed USD 4,800, this will be annulled.
A distinguished picture from Dall.e, chart from tradingview.com
