ETHEREUM Range to analyze
Ethereum is the leader of all Altcoins. What it does will tell you where the altcoin market is going. This potential capitulation move tells us that 1300 is a major support and 2500 is a major resistance area. We may see the upper end of this range over the next few months but until the crypto market is back in a Bull trend we may see levels in ETH that we have not seen in over 2 years now. Again a nice time to consider accumulation, but if you are a trader set your longs with tight stop losses as we are likely to see lower levels in the near future. Even if the ETH 2.0 roll out is successful this year the state of the market will not allow ETH to break out of this trend until we have new capital flowing into the markets. With so much blood on the streets with crypto and even more-so traditional markets selling off, we are in for some more lower lows and artificial pumps. Be very careful out there and do your own research before making any trades. We believe in crypto as a whole and believe the future is bright, but charts always tell a story and currently these trends are pointing down. If you buy at these lower levels consider exit positions on the pumps unless you want to hold for the next bull market. HAPPY TRADING!!!
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.