ETHEREUM: UNDERVALUED? WHAT IS THE NEXT MOVE?!

In my opinion, Ethereum is currently very undervalued. However, I could see a potential correction to the downside in the short term to liquidate excessive leverage. Once the next weekly candle closes above the trendline, I believe Ethereum could experience a strong price surge upwards, potentially reaching the all-time high, and then targeting Fibonacci levels.

Potential Scenarios:

1: Breakout Above Trendline: A close above the trendline on the weekly chart could signal a bullish move towards new highs.

2: Downside Correction: A slight dip could be seen to clear out leverage before a potential move upwards.



What do you think the next Ethereum move will be? Is it more likely to be scenario 1 or 2?

Let me know your thoughts!