Still long Ethereum although it appears range bound for awhile.
Ethereum had a tough day, while big brother Bitcoin broke out strongly.
I would advise that Ethereum still appears bullish to me as it attempts to cut through the $380 level repeatedly. If the ETH bulls can not defend this level the fall could easily get much worse than $365. We did however see major strength with buyers defending this pivot point.
Ethereum has a lot going for it in regards to the adoption of Smart Contracts, and the roll out of Phase 0 of ETH2.0.
When looking at a perspective of the past 20 days, ETH still appears to be in a bullish trend. I think we may be range bound from $360-380 for awhile till we get more participants or a fresh catalysts to build off of.
Will Ethereum ever reach the 2020 high of $488? Total unknown till we see how the upgrades in the ETH 2.0 work out.
I would advise that Ethereum still appears bullish to me as it attempts to cut through the $380 level repeatedly. If the ETH bulls can not defend this level the fall could easily get much worse than $365. We did however see major strength with buyers defending this pivot point.
Ethereum has a lot going for it in regards to the adoption of Smart Contracts, and the roll out of Phase 0 of ETH2.0.
When looking at a perspective of the past 20 days, ETH still appears to be in a bullish trend. I think we may be range bound from $360-380 for awhile till we get more participants or a fresh catalysts to build off of.
Will Ethereum ever reach the 2020 high of $488? Total unknown till we see how the upgrades in the ETH 2.0 work out.
