Crypto has been trading rather bearish over the last couple of weeks. Ethereum is currently not looking favorable for bullish investors in the short-term, but that might change in the future.
If we continue to fall, I'm eagerly waiting for ETH to reach the dotted support line on the chart. This support line holding is the best near-term case for the bulls.
A fall through said support means that the long-term trading direction has shifted to bearish. But, as long as we're above this support we are in a long-term uptrend.
Keep in mind that we don't necessarily have to go down to the diagonal support and that we can also pump from the current price. But IF we go down, THEN the support will likely cause some kind of bounce.
If we continue to fall, I'm eagerly waiting for ETH to reach the dotted support line on the chart. This support line holding is the best near-term case for the bulls.
A fall through said support means that the long-term trading direction has shifted to bearish. But, as long as we're above this support we are in a long-term uptrend.
Keep in mind that we don't necessarily have to go down to the diagonal support and that we can also pump from the current price. But IF we go down, THEN the support will likely cause some kind of bounce.
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