Over the last week or so, ETH has been trading sideways. During the same period, BTC has been falling. So, comparatively, ETH has strongly outperformed BTC and is arguably a very bullish sign for alt coins.
However, with the FED meeting coming up and BTC falling further and further, we might see ETH fall through the support of the horizontal channel.
Keep an eye on the yellow area. If we fall through the support, expect further selling towards $1400 or potentially even lower. If we reverse, look for the top resistance for a short-term scalp.
However, with the FED meeting coming up and BTC falling further and further, we might see ETH fall through the support of the horizontal channel.
Keep an eye on the yellow area. If we fall through the support, expect further selling towards $1400 or potentially even lower. If we reverse, look for the top resistance for a short-term scalp.
Note
ETH Breaking out bearish. Watch for $1400!Wait for the hourly candle to close.
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🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
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.