Hello Traders!
At the moment, ETH looks weaker than the index (Bitcoin), lagging behind on the growth and correcting stronger on the decline of the index.
The market is in a classic situation: participants are in no hurry to open positions in altcoins, waiting for Bitcoin to continue growth.
As soon as the index gets a significant correction, the liquidity will start to flow into other instruments. In that case, we will see a correction in ETH.
Of course, we can miss one wave of growth waiting for a correction, but entering from the current levels will not give comfortable points of entry.
Consequently, it's better to wait and look for purchases on correction of the instrument.
You can make an entry in buying in the range of $2950 - $3110.
It would be better to place the stop loss under the level of $2625
Buying targets: Price levels of $3970 and $4372
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
At the moment, ETH looks weaker than the index (Bitcoin), lagging behind on the growth and correcting stronger on the decline of the index.
The market is in a classic situation: participants are in no hurry to open positions in altcoins, waiting for Bitcoin to continue growth.
As soon as the index gets a significant correction, the liquidity will start to flow into other instruments. In that case, we will see a correction in ETH.
Of course, we can miss one wave of growth waiting for a correction, but entering from the current levels will not give comfortable points of entry.
Consequently, it's better to wait and look for purchases on correction of the instrument.
You can make an entry in buying in the range of $2950 - $3110.
It would be better to place the stop loss under the level of $2625
Buying targets: Price levels of $3970 and $4372
Good luck and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
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.
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.