ETH has recover a 3.4% of it's Market Cap and it is at -59% from it's ATH, but it apparently has more way to go downwards. So, we are at the moment touching Fibonacci Retracement Level of 0.618%, it could bounce a little and reach 0.5% Fibonacci retracement level. BUT, it is actually forming a symmetrical Triangle on Daily Chart and it is still in the middle so, my Perfect Buy Zone would be over the 0.786% Fibonacci Retracement Level that has double support with the trend line that has a bit more than a year old, I don't see ETH going more down from this point on, but I expect a potential bounce in this Area. I will put my probabilities in Perfect Buy zone if we get down there.
On the other hand, RSI is Oversold, that gets me to think it could bounce a little at this prices to the 0.5% Fibo Level, but it could go to 0.786% Fibonacci level after this 1st bounce. Obviously, ETH need to Brake above the Triangle to begin a new bull run and reach new ATH. MACD is below histogram and it is not showing trend reversal for the moment.
I think it will get a very good year, but investors will have to have patience with this one for 2018, I won't say day or time, but I will keep this updated.
On the other hand, RSI is Oversold, that gets me to think it could bounce a little at this prices to the 0.5% Fibo Level, but it could go to 0.786% Fibonacci level after this 1st bounce. Obviously, ETH need to Brake above the Triangle to begin a new bull run and reach new ATH. MACD is below histogram and it is not showing trend reversal for the moment.
I think it will get a very good year, but investors will have to have patience with this one for 2018, I won't say day or time, but I will keep this updated.