Ethereum / TetherUSShort
OUCH! Ether could go to $1663 as SHORT sellers take action
ETHUSDT On April 19 and 20, the bulls tried to keep Ether's price above the 20-day EMA (
1,942), but the bears pulled Ether below the 20-day EMA on April 21. The first support on the downside is the 38.2% Fibonacci retracement level of 1,846, which is likely to attract strong buying by the bulls.If the price turns up from this level, it improves the prospects for a rally to
2,200. If the price continues to drop and breaks below 1,846, the ETH/USDT pair may fall to the 50% retracement level of 1,755, followed by the 61.8% retracement level of 1,663.Let me know what you think!
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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.