Although I view crypto market as a bear, I am not saying it can't have one more bounce. And if we take a look at the 2nd biggest coin ETH we can clearly see that price is still moving inside this big channel. This is renko 1d chart with a block size 1% of max price - 48$. There was 2 attempts this year to break this channel, but every time price has bounced of it. And right now price is trying to bounce one more time. To get out of it bears need to break 2600-2500 zone, otherwise bulls will make another mini rally. (Which can also lead to a bigger rally).
So at the moment I am looking forward to further confirmation to see the direction chosen by the market.
Do you think bulls will make another bounce here?
So at the moment I am looking forward to further confirmation to see the direction chosen by the market.
Do you think bulls will make another bounce here?
Note
Not much has changed since then despity huge crash yesterday, eth is still inside this big channel and currently is heading towards the support line. Let's see if we can bounce there
Note
Price went down to test this channel and is out of at the moment. If we close outside I expect a further decline, maybe even a crash. Trade active
ETH has decided lol 
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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.