Ethereum remains the apple of my eye as it continues to form a spectacularly beautiful base setting up with enormous potential. When I see a chart like this, it's hard for me to express the emotions that arise inside of me. It's almost like a man who sees a beautiful woman enter the room for the first time or someone who searches the world for a fine jewel or treasure and finally sees it before his eyes. The symmetry, the shape, the tightenings-it's just all right there in the chart.
Since bottoming in 2022, Ether has built a very large base. These type of bases wear out all the weak holders. The FTX collapse put ETH front and center as it began to exhibit subtle signs of strength. While it may seem odd to see Ether acting well while Sam Bankman-Fried is on trial, those who wanted to sell their crypto holdings most likely did have already done so. Another factor that is important to note is that the supply of Ethereum has been reduced due to the move from proof of work to proof of stake.
I currently own Ether and will be looking to add to my position it can clear recent resistance with conviction.
Risk right. Sit tight.
To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page.
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Full Disclosure: I currently own Bitcoin and Ethereum.
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