After the dump previously when Ethereum made its way up to $617, it saw a dump back down to the daily at $498. From there, everybody was freaking out saying the price could go down to $385 and sub-$400 levels. It did the opposite and went for a V-shaped recovery.
The $601 valley was created at the onset of the dump after reaching the high price of $617, this time the $617 level has already been tested once, meaning it is a lot weaker than it was the 1st time around trying to break through it going to $687.
With Bitcoin hitting its all time high today, ETH and the other cryptocurrencies are soaring as well. Here are my long targets:
TP1 🎯 $617
TP2 🎯 $687
Be cautious with these next few candles, they are the determining factor for the price of ETH. If you are going long, remember to set tight stop losses.
As always please do your own research, I am not a financial advisor.