highly correlated with Bitcoin (sifrdata.com/cryptocurrency-correlation-matrix/). Really just waiting on Bitcoin to confirm bullish reversal or bearish continuation. Under bearish conditions, dip buying $400-$500 for Ethereum, where support is significant, would provide good risk/reward levels. Under $400 and support is nearly non-existant outside of psychological round number levels. Bullish case would be support building/price stabilization around $700 breaking current trend down, followed by increasing volume on the breakout of that range.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.