#ETH — Correction Before the ETF Launch?
Despite the market downturn, ETH's price remains above the crucial mirror support zone at $3,650, still leaving room for growth and a potential new ATH.
❗️However, a likely scenario before the ETH-ETF launch is a corrective dip, allowing big players (funds) to buy at better prices.
📉 Therefore, a decline to the $3,400 - $3,200 range is entirely possible. This is where the Fibonacci correction zone and the 100-200 MA on the 8-hour timeframe are located.
Remember: The bearish scenario will only play out if the current support is broken.
❗️However, a likely scenario before the ETH-ETF launch is a corrective dip, allowing big players (funds) to buy at better prices.
📉 Therefore, a decline to the $3,400 - $3,200 range is entirely possible. This is where the Fibonacci correction zone and the 100-200 MA on the 8-hour timeframe are located.
Remember: The bearish scenario will only play out if the current support is broken.
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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.
Присоединяйся Telegram: t.me/+0nPAI8xmnegyOWFi
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.