Ethereum- correction could be next
Last week, my 1700 zone target for Eth was hit and for more than 4 days now, the crypto is in consolidation in a 100usd range.
Considering the 70% rise in this very short 2 weeks, this consolidation could be very well profit taking.
Although a very important bottom can be now in place, a drop at this moment looks very probable.
Levels to keep an eye on for this correction are the 1500-1550 zone and the very important 1250-1300 zone support, which also can be a good place to buy in expectation of a new rise.
Considering the 70% rise in this very short 2 weeks, this consolidation could be very well profit taking.
Although a very important bottom can be now in place, a drop at this moment looks very probable.
Levels to keep an eye on for this correction are the 1500-1550 zone and the very important 1250-1300 zone support, which also can be a good place to buy in expectation of a new rise.
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