Ethereum Poised for Parabolic Rally to $11,500 :
Key Bullish Signals to Watch
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Ethereum (ETH) is showing signs of a potential parabolic rally, with key technical indicators suggesting it could surge to **$11,500**, a price level that aligns with the Fibonacci 1.5 extension. Here’s an analysis of the current setup :
Key Technical Indicators :
- Perfect Buy Entry : Ethereum’s price recently hit a significant bottom at its **1M MA50** (red trend-line), providing an ideal entry point back in September.
- Weekly Candle Strength : Last week, Ethereum recorded its strongest weekly candle since the bull cycle began, closing above the **1W MA50** (blue trend-line) for the first time since July 29, 2024 .
- MACD Bullish Cross : The **1W MACD** completed a **Bullish Cross** last week, the first since **October 30, 2023**. This signal confirms that a new bullish leg is likely, much like the one that initiated the aggressive rally in 2024.
Historical Comparison :
- November 2020 Parabolic Rally : In November 2020, Ethereum entered a similar bullish phase, closing above its **1W MA50**, crossing the **0.5 Fibonacci** level, and completing a **MACD Bullish Cross**. The rally that followed reached the **Fibonacci 1.5 extension** before topping out.
- Cycle Timing : 1000 days have passed since the previous cycle top, and Ethereum is now positioned similarly to how it was before its parabolic rally in 2020.
Projected Target :
- $11,500 is the estimated target, based on the Fibonacci 1.5 extension, signaling a new cycle top for Ethereum if the current bullish momentum continues.
Conclusion & Advice :
Ethereum is setting up for a potentially massive rally toward $11,500 , driven by the key bullish signals on the weekly chart. Traders should monitor for sustained momentum above the **1W MA50** and MACD Bullish Cross as confirmation of this parabolic move.
Tip : Use stop-loss orders to manage risk, and consider scaling into positions as Ethereum continues its bullish run.
