Buy the dip or sell the dip?
Ethereum is at a key area right now between 266 and 276, support needs to hold in order to form a higher low with a hidden bullish div. (continuation). To me, this is the most likely scenario.
Otherwise, we can see Ethereum falling back down to the 240s and potentially the 220s (double top and worst case scenario)
Ethereum is at a key area right now between 266 and 276, support needs to hold in order to form a higher low with a hidden bullish div. (continuation). To me, this is the most likely scenario.
Otherwise, we can see Ethereum falling back down to the 240s and potentially the 220s (double top and worst case scenario)
Note
We can see bearish scenario 1 playing out. To maintain the macro trend, Ethereum needs to bounce at the $240 level.
Other-wise, we can see Ethereum dropping to the $220s
Got out at 266 and am staying out for now.
Note
ETH/BTC is also at a trend line support, for Ethereum to bounce here at around 250, BTC needs to bounce as well.
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Disclaimer
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.