Ethereum Screaming "Catch Me" - Seeking Some Sort of Support
Ethereum has been rattled by the ongoing sell-off at the crypto market. Just failing to make new ATHs it crashed already to a hard rocky -30% bottom @ $950.
As all crypto assets it is desperately to to cling to a support line.
The $900 level seems to be the best hope right now. Mid-February 2018 this was a resistance level and could now turn into support.
Also the $900 level is a 0.618 fib. retracement level considering the rise from end of November 2020.
Ethereum may also "only" retrace to the -30% bottom at $950 for building support.
There of course potential Bitcoins selling pressure will push Ethereum down lower to $750.
If Ethereum manages to close this week at above $1k that would be a good starting level to continue the bull run.
That level is the upper Bollinger Band.
Short-term these next couple of days rather short / bearish, but beyond that if Ethereum conquers back the upper Bollinger Band bullish again.
This may just be the best buy-in opportunity available before the parabolic rise of Ethereum t0 20k.
More on that later.
As all crypto assets it is desperately to to cling to a support line.
The $900 level seems to be the best hope right now. Mid-February 2018 this was a resistance level and could now turn into support.
Also the $900 level is a 0.618 fib. retracement level considering the rise from end of November 2020.
Ethereum may also "only" retrace to the -30% bottom at $950 for building support.
There of course potential Bitcoins selling pressure will push Ethereum down lower to $750.
If Ethereum manages to close this week at above $1k that would be a good starting level to continue the bull run.
That level is the upper Bollinger Band.
Short-term these next couple of days rather short / bearish, but beyond that if Ethereum conquers back the upper Bollinger Band bullish again.
This may just be the best buy-in opportunity available before the parabolic rise of Ethereum t0 20k.
More on that later.
