Before And After: The Ethereum Fractal You Have Got To See

Tony "The Bull" Severino

Last Updated: June 11, 2024 2:14 pm

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ethereum price over the last couple of years has outperformed even Bitcoin’s, making it the most bullish cryptocurrency among the top three assets. But a fractal brewing in the altcoin could make for an incredibly bearish outcome if history repeats.

Here’s a closer look at the bearish cryptocurrency chart fractal potentially warning of a reversal, and the before and after you’ve got to see to believe.

Ethereum Fractal Says The Bull Market Is Finished For The Top Altcoin

Ethereum price has long been soaring right alongside Bitcoin, but since tapping above $2,000 per Ether token, the top ranked altcoins has been struggling with resistance since.

Crypto analyst are torn whether the price action is bullish or bearish. One theory claims that the recent retest of the altcoin’s former all-time high presents a “once-in-a-life-time opportunity” for those who missed out on the initial rally.

Other analysts aren’t so sure. One crypto trader in particular has discovered a fractal in Ethereum price action, that closely resembles a more extended version of the 2017 bull market breakout.

$Ethereum fractal$

The 2019 and 2020 price action is an extended fractal of the last bull run breakout | Source: ETHUSD on TradingView.com

The price action preceding the 2021 breakout closely resembles that of the price action during 2019 and 2020 that caused the cryptocurrency to soar to current prices. It’s what comes next, however, that must be seen to be believed.

Are Fractals Something To Fear, Or Do They Fail More Than They Follow Through?

All crypto bull rallies eventually come to an end, and bears regain control. The problem is, the fractal one crypto trader found, could indicate that is exactly what is about to happen with Ethereum price action.

After slamming into powerful resistance – then at around $1,400 per ETH – the altcoin corrected and fell into an extended, painful bear market. With the preceding price action matching the current patterns so well, albeit a much more extended version, could another bear phase soon follow?

$Ethereum fractal 2$

What came next, however, was a multi-year bear market in cryptocurrencies | Source: ETHUSD on TradingView.com

Fractals, while frightening to see taking shape, often fail and have earned themselves more of a fable reputation among the crypto community than fact.

Things are very different this time around, most significantly, the amount of upside that happened in Ethereum before the peak was in.

Back then, Bitcoin has also topped out, and few in the crypto space would worry that the currently ongoing bull market in the top cryptocurrency is anywhere near over.

Still, the similarities are there enough to take caution if you are holding the altcoin.

Featured image from Pixabay, Charts from TradingView.com

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.