$ETH monthly chart still gives some bullish vibes.

Two paths heading into the December Santa Rally:
If the bull is over, $ETH should fail right at the 3700s, the iHS neckline.
If the bull has more fuel, we slice through that neckline and never look back.
We’re about to find out which story this market wants to tell.

The $ETH/RUT ratio is worth watching, the Russell 2000 is the core risk-on benchmark.
A big iHS here suggests ETH is gearing up to outperform traditional risk assets.
If this breaks out, crypto takes back leadership.

In this blood bath we at least get one good thing.
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You’ve been asking what I expect next.
In November I think $ETH should print a clear higher low (as shown below). Only after that can we realistically target new ATHs into December.
3100s is now the key support zone. If bulls defend it, trend stays intact. If it breaks… that’s how bear markets begin.

Swept the 3400s and landed in the 3000s. 🫡
In my view the worst part is now behind. We likely get some consolidation over the next weeks before momentum returns.

There’s a decent chance we could sweep the lows one more time, as the chart suggests, before the next rally begins, same pattern we’ve seen play out time and time again.

$ETH roadmap looks rock-solid.

The key difference between these two otherwise identical patterns:
BTC’s broadening wedge breakout came after 8 months of compression.
$ETH ’s has been compressing for 18 months, setting up a breakout that could be twice as violent.