ETHUSD Log Curve Zone Analysis

ETH on the larger 3W or Monthly timeframe shows a similar pattern to late 2018 on the Log Curve. If the ETH 2018 log curve pattern repeats we could be looking at ETH reaching the lower green zone of $800 to $900. Currently, the MACD shows a continued market decline with a red histogram. Likewise, the TTM Squeeze histogram shows continued market decline also with a red histogram. Please note that MACD will focus on shorter-term trends while TTM Squeeze will show longer-term market trends.

All of the above is on the 3W timeline, which currently shows more detail than the monthly timeframe. The weekly timeframe became inaccurate for the TTM Squeeze and MACD about 2 weeks ago when strong downward pressure was presented on larger timeframes.

If the 2018 log curve pattern repeats, we should be looking at an extreme clearance sale on ETH over the next 3 weeks. Then with a possible uptick to the bottom of the yellow zone by December, followed by another low period in Q1 and Q2 of 2023.

However, the current difference between the 2018 log curve pattern and the current market is that the 2018 MACD was already showing maroon color indicating updated pressure building. For that reason, it's possible ETH may break the lower green zone and go into the extreme clearance (firesale) zone of the log curve. We may know when the bottom has arrived when the SRSI shows a green dot in the next few weeks.

Overall good buying opportunity is present for long-term (high timeframe) players.

As with any idea, please do your own diligence.

Enjoy!