ETH needs a 15% correction
ETH is once again trading at the top of this massive up trending channel and has been trading in the top of this channel for more than 16 days now. I feel ETH needs at least a 15% correction which would bring it the bottom of this trading range and would be a healthy indicator of this trend continuing upwards.
If this does not happen ETH can pump straight out of this channel to the upside but then we run the risk of a much larger correction later on in this trend. A healthy market must correct in order to gain strength and continue upwards.
If this does not happen ETH can pump straight out of this channel to the upside but then we run the risk of a much larger correction later on in this trend. A healthy market must correct in order to gain strength and continue upwards.
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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.