Ethereum High Flyer Today on Monday

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#Ethereum the performer of the day

On this first trading day of the ninth trading week in May, the market is focused on ethereum. The Defi tokens are also performing quite well and are outshining Bitcoin. It is still a long way from valuation but ethereum and the projects like MKR are catching up. Today once again puts a long green candle in the daily chart and the question is can we close at this high level?
I once again used the magic Fib tool to find resistance on the upside. A target at the $ 3300 mark has now been reached and in this zone also set the first profit-taking. The upward trend is still fully intact on the hourly chart and only below the 3100$ mark this trend would be broken. Since the trend is always your friend, you can also now buy the retracements again. I have drawn the two most beautiful of them as possible targets.

eth 2.png

Other targets on the top side must not be missing, of course. When there will finally be a major reset, no one knows, but the charts will show us. The euphoria is currently still very large in the ethereum network. Let's see when the hype reaches its peak.

eth3.png

Source: (Guidants/Godmode Trader) & JFD Broker & Binance

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