ETH/USD - Drop to $1,500, can we go lower or this is it?
ETH dumped today as soon as we lost our ascending support. A decent 10% drop.
We found support at $1,500 which seems to hold well so far, however, we are not out of the woods yet and we need to watch price action closely, because right now it can go either way as indicated by the chart.
If we fall we have another strong support just above $1,400 which I expect to hold quite well, if we are to go there. As the market momentum is still very bullish, I would be surprised for bulls to let ETH have such a discount. Buying the old ATH breakout is quite something.
I'd be more included to say we will turn here and break up again. However, to get confirmation we need to break the diagonal which acts as resistance currently.
We will know by tomorrow where we are headed. Seems we need to reload again before trying our luck at breaking 1.8k. Was not that easy first time. :)
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We found support at $1,500 which seems to hold well so far, however, we are not out of the woods yet and we need to watch price action closely, because right now it can go either way as indicated by the chart.
If we fall we have another strong support just above $1,400 which I expect to hold quite well, if we are to go there. As the market momentum is still very bullish, I would be surprised for bulls to let ETH have such a discount. Buying the old ATH breakout is quite something.
I'd be more included to say we will turn here and break up again. However, to get confirmation we need to break the diagonal which acts as resistance currently.
We will know by tomorrow where we are headed. Seems we need to reload again before trying our luck at breaking 1.8k. Was not that easy first time. :)
Like and follow if you liked this idea. Also join my crypto community to stay in touch!
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