ETH: STILL HOLDING THE SUPPORT!!!
Welcome guys to this ETH update in 3 days timeframe.
ETH has been getting rejected for a long now. Is this on purpose or the market is actually going bearish? Things may look complicated but let me get things straight.
The market has been dipping down, I agree but the RSI is telling a different story. The RSi is gaining bullish momentum here in a shorter timeframe. Be it BTC or ETH, we are noticing a similar move in RSI. Ok, that looks pretty good but is it enough to confirm a bullish rally? Well, RSI isn't enough to confirm a bullish rally but yes, it is an important one. To confirm a bullish or bearish rally, we must consider different indicators and fundamentals.
Whether the market is going bearish or bullish, one thing is for sure, the market never keeps on dipping or pumping. It flows in an up & down or zigzag pattern and we see red and green candles in both the bear and bull market.
Coming down to the ETH price action, the current price is at the support and if it breaks down below this then we have our 2nd support between $1700 to $1900. Scary isn't it? But that's the fact and we must accept it. A bounce on the other hand will be amazing for ETH.
If at all we are in the bear market then I would consider this as a huge discount sale on the crypto market. So, keep your funds ready to accumulate when the time comes.
What do you think? Are we in the bear market? or this is just a correction?
Do share your ideas with me. I will happy to know your opinion.
Like and follow for more interesting ideas.
Thank you.
ETH has been getting rejected for a long now. Is this on purpose or the market is actually going bearish? Things may look complicated but let me get things straight.
The market has been dipping down, I agree but the RSI is telling a different story. The RSi is gaining bullish momentum here in a shorter timeframe. Be it BTC or ETH, we are noticing a similar move in RSI. Ok, that looks pretty good but is it enough to confirm a bullish rally? Well, RSI isn't enough to confirm a bullish rally but yes, it is an important one. To confirm a bullish or bearish rally, we must consider different indicators and fundamentals.
Whether the market is going bearish or bullish, one thing is for sure, the market never keeps on dipping or pumping. It flows in an up & down or zigzag pattern and we see red and green candles in both the bear and bull market.
Coming down to the ETH price action, the current price is at the support and if it breaks down below this then we have our 2nd support between $1700 to $1900. Scary isn't it? But that's the fact and we must accept it. A bounce on the other hand will be amazing for ETH.
If at all we are in the bear market then I would consider this as a huge discount sale on the crypto market. So, keep your funds ready to accumulate when the time comes.
What do you think? Are we in the bear market? or this is just a correction?
Do share your ideas with me. I will happy to know your opinion.
Like and follow for more interesting ideas.
Thank you.
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