Here is what I'm seeing for ETH at the moment. Because of the low volume on the dips, I am leaning towards bouncing off the 61.8% fib retracement or at least a test of the long term channel, but if any of the critical supports are broken (dark green arrows), then that could be an indicator of a long term trend reversal. What do you think?
These are the three options I see happening. All coins, including bitcoin, are bearish short term for the last day or so, and if bitcoin continues to correct ETH could follow or it could make its own path. What do you think? I personally think we will stay above ~$200 for the time being.
Just about to hit the top of an ascending channel, 5th wave could be complete, could see A-B-C correction, or is the market too bullish for such a deep correction? Usually huge volume scoops up the weak hands as we saw with the last couple dips. Ideas?
ETH has shown resilience around the $215 level despite failed breakouts testing this resistance level. I expect some consolidation and then a breakout sometime soon. It is not clear when at this point when a breakout might occur.
