Ethereum is currently sitting at the bottom of its trading range and has hit a major ascending trend-line that price has respected many times. You can see on the chart that the last time price dipped under $850 it was quickly bought up, there is a strong likelihood that buy interest is still there. Major over-head resistance between $1200-$1300. The entire crypto market took a bloodbath this week, and bloodbaths create the best buying opportunities in the market. We should see a pull-back at the very least.
This idea is valid as long as price holds above $750, never risk more than you can afford to lose.
This idea is valid as long as price holds above $750, never risk more than you can afford to lose.
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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.