The market is in a crux. Very important level here for ETH, similar to $40k for BTC (see below idea).
So far the bulls managed to keep price above the key support at $2,800, but the question is if they can maintain it.
Any failure here from buyers to hold price will lead to bears takin over and pushing ETH quickly back towards $2,200.
Bias is neutral considering this price action and the indicators are turning rather bearish, particularly the MACD with a falling histogram. The RSI is flat as is volume.
A break below the key support level will turn MACD bearish which will be quite painful. Lets see what comes next. For now buyers appear interested here.
Like and follow if you liked my idea!
So far the bulls managed to keep price above the key support at $2,800, but the question is if they can maintain it.
Any failure here from buyers to hold price will lead to bears takin over and pushing ETH quickly back towards $2,200.
Bias is neutral considering this price action and the indicators are turning rather bearish, particularly the MACD with a falling histogram. The RSI is flat as is volume.
A break below the key support level will turn MACD bearish which will be quite painful. Lets see what comes next. For now buyers appear interested here.
Like and follow if you liked my idea!
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📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
Related publications
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.