Price Discovery Mode Engaged!
Congratulations to all how have held through the summer madness and stuck to your convictions. If you’re just joining the show, you are most definitely not too late.
Aside from ETH breaking new all time highs, it continues to set new unprecedented levels in other metrics as well.
From a fundamental perspective
-Hashrate currently at all time highs
-Illiquid supply almost mirroring the levels of BTC
-Rumors continue to circulate about a similar ETH ETF thus creating more bullish, yet speculative news.
Heres how I am approaching things.
From a technical perspective
-Expect pullbacks and volatility as ETH continues to set new all time highs. Psychological levels such as 5.5k and 6k will continue to act as short term resistance which almost always come with heavy pullbacks for better opportunities for entries. Be patient with your entries, dont chase profits but also lets remember to not set firm entries here. I generally like to set an entry zone as opposed to a firm price. The last thing you want is to have the price run away from you which will just expose you to unnecessary risk. Remember to sell into strength and buy into weakness.
Aside from ETH breaking new all time highs, it continues to set new unprecedented levels in other metrics as well.
From a fundamental perspective
-Hashrate currently at all time highs
-Illiquid supply almost mirroring the levels of BTC
-Rumors continue to circulate about a similar ETH ETF thus creating more bullish, yet speculative news.
Heres how I am approaching things.
From a technical perspective
-Expect pullbacks and volatility as ETH continues to set new all time highs. Psychological levels such as 5.5k and 6k will continue to act as short term resistance which almost always come with heavy pullbacks for better opportunities for entries. Be patient with your entries, dont chase profits but also lets remember to not set firm entries here. I generally like to set an entry zone as opposed to a firm price. The last thing you want is to have the price run away from you which will just expose you to unnecessary risk. Remember to sell into strength and buy into weakness.
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