🔥 Ethereum Successful Bounce: Recovery Incoming
Updated
A few days ago I made an analysis on the bearish move of ETH and the incoming support area from $4200 - $4000.
As expected, the
4K level proved very resillient and has caused the massive reversal which we can see today. I'm expecting this dip to be bought up very quickly, this train will not stop until we reach the $4300 - $4350 area. After we reach the target area, bulls will have to prove themselves and that this is not just a consolidation phase within a bigger downtrend.
Happy trading!
As expected, the
4K level proved very resillient and has caused the massive reversal which we can see today. I'm expecting this dip to be bought up very quickly, this train will not stop until we reach the $4300 - $4350 area. After we reach the target area, bulls will have to prove themselves and that this is not just a consolidation phase within a bigger downtrend.Happy trading!
Note
Also, take a look at this 4-month support. Held perfectly!
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