The outsider quoted a technical graphic analyst, Aksel Kibar, who argued that the Taifeng had recently seen a double-dip break signal above US$ 1842, pointing the theoretical target at US$ 2163. However, he himself did not turn to more, but continued to wait for prices to stabilize in higher zones before judging whether the trend had actually improved.
Double base pattern points to $2163.
The report mentions that the Ether Fever returned to the vicinity of US$ 1510 in June and July and was supported by a purchaser, creating two lower points closer. The price then broke through the neckline position of $1842 upwards, which constituted a typical double-bottom reverse.
In this pattern, if the breakthrough is effective, the subsequent top target can be seen at $2163. According to the article, the focus of current market attention is not just on the target position per se, but also on whether $1842 could shift from a former resistance position to a new one.
$1842 into a short-line watershed.
On many occasions, if the purchaser continues to hold $1842, ETA will have the opportunity to recover the 2000 integer level and move towards $2163.
However, if the price falls again below $1842 and the weekly closing is lost, previous breakthrough signals may fail and the market may be considered “false breakthroughs”. At that time, the Ether Workshop or its re-entry into the previously convulsive zone and again face the lower support test.
- Double bottom low-point area: approximately $1510
- Critical neckline position: $1842
- Form Target Position: $2163
The analyst is still waiting for more confirmation.
Although the graphic structure appeared to be complete, Kibar indicated that the transaction did not meet his entry requirements at this stage. He was more concerned about whether prices could begin to show initial strength, especially at the psychological juncture of US$ 2,000.
According to the article, this reflects the fact that differences within the market are still evident. Some traders see the current trend as a back-to-back starting point after the stage low, but more prudent funding remains concerned that this is only a partial rebound in the larger-scale bottom-up process.
Kibar's judgement is to wait for a clearer trend to confirm the signal, even if a part of the rise is missed. In this vein, the next weekly closing performance will be the focus of observation to determine whether the breakthrough will evolve into a broader trend change.