My take on Ethereum after facing sellers at 399$ levels
As you can see buyers from 172$ and 299$ levels all got out at 399$ levels, the demand for the Crypto wasn't strong enough for it to break free from 399$-400$ levels.
Now as you may see new buyers came in again around 230$ which means people were willing to buy in around that demand area and believe it to be a good price to go long.
As you can see in the image below, the consolidation after new buyers came in, I believe that to be a combination of scalpers and buyers from 230$ selling half of their position.
Now my prediction is those buyers will eventually lock in profits around 399$ again, but depending on how strong the demand for the crypto is around those levels
we could see another sell of either back to the highlighted area below or more selling back to 233$ levels.
That is my prediction but keep in mind that if the demand for the crypto increases around 399$ and new buyers are willing to go long, people from 233$ and 172$ will
hold some of their position as well and we could experience a new upcoming uptrend meaning higher highs with small selloffs.
Thank you for watching, please keep in mind this is my personal opinion on the crypto and you should not trade/buy/short based on this information.
Please do your own analysis and give me a big smile :)
- Oliver Marte Management,
Now as you may see new buyers came in again around 230$ which means people were willing to buy in around that demand area and believe it to be a good price to go long.
As you can see in the image below, the consolidation after new buyers came in, I believe that to be a combination of scalpers and buyers from 230$ selling half of their position.
Now my prediction is those buyers will eventually lock in profits around 399$ again, but depending on how strong the demand for the crypto is around those levels
we could see another sell of either back to the highlighted area below or more selling back to 233$ levels.
That is my prediction but keep in mind that if the demand for the crypto increases around 399$ and new buyers are willing to go long, people from 233$ and 172$ will
hold some of their position as well and we could experience a new upcoming uptrend meaning higher highs with small selloffs.
Thank you for watching, please keep in mind this is my personal opinion on the crypto and you should not trade/buy/short based on this information.
Please do your own analysis and give me a big smile :)
- Oliver Marte Management,
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