URGENT READ BEFORE YOU BUY ETHEREUM!!!!BE PATIENT FOR THE BIGGEST RETURN!!!!
BINANCE:ETHUSD
IN SHORT
➊ Ethereum still trending downwards (Lower Highs, Lower Lows)
➋ Ethereum will face correction
➌ Key Levels of support and resistance
➍ Bitcoin and Ethereum Mysterious connection
➎ My investment plan
ETHEREUM had its first test of resistance at around $3,556 USD it fell to $3,168 USD and used it as support. ETH rallied and the second push broke out of the resistance ETH is facing right now ($3.350 USD) and it used that as a support before breaking out of that key level of resistance at $3,556 USD. Due to the Evergrande Crisis ETHEREUM fell to around about $2780 USD and the $3,168 USD level of support then became resistance.
NOW EXCITING NEWS IS ETHEREUM HAS BROKEN OUT OF THIS MID TERM DOWN TREND
ETH now has hit this previous level of support ETH used before rallying up towards the short term all time high at $3,556 USD. Due to this big push and because Bitcoin is also facing a correction, we are going to see a correction for ETHEREUM which will most likely use the historic $3,168 USD level as support before gaining back the momentum to break through the $3,556 USD. However if ETHEREUM cannot hold this level of support we are looking at a technical target of $2,445 USD. HOWEVER!!! If it does hold this support we are looking at a technical target of $3,700 USD.
Make sure to keep an eye on Bitcoin as Bitcoin is really dictating the price of ETHEREUM. Ethereum has been labeled as Digital silver following Bitcoin being named digital gold. This makes me very bullish on Ethereum because for price to get driven up you need a narrative to really drive the markets because narratives are what get retail investors in and retail investors are the main drivers of markets. Due to retail investors and the media pushing Ethereum as the “silver” of the crypto world, ethereum is becoming very main stream. This causes Ethereum to sort of “follow” Bitcoin’s price movements as these two coins are the main ones being advertised to retail investors.
However be careful do not blindly put all your money into it just because you see videos or posts saying “BULLISH BULLISH” because a lot of the times the pump is not worth the hype.
I have invested a bit into ETHEREUM around $2,850 USD and i am patiently waiting to see if ethereum does use $3,160 USD as support and if i do see this i will increase the size of my positions as this would be an extreme bullish sign.
Be careful and stay safe and Make sure to follow for everyday news and analysis so we all can make MONEY!!!
Thank you make sure to let me know what you guys think and what your plans are with Ethereum moving forward
THIS IS NOT Financial Advice
