ETH May 2021 Target
ETH Possible Target.
Almost everyday, it's creating new ATH.
What to Expect in short term: After breaking the 4K resistance, we might run for another sideway action before running for another leg up. Possible support @3.6K-4K level, both supported by the E-Cloud in 4H TF. On top of it, is the 2.618 Fib.
@1H TF, the 21 EMA is also currently acting as support at the time of this review.
Target Profit: 4.9-5K @3.168 Fib
NOTE: Bearish scenario, if the 21 Daily EMA breaks, the 2-2.5K level with the 1.618 Fib, might hold as strong support. Of course this will all depend on the Bitcoin move and Dominance.
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