ETH confirming bounce, or dead cat? Bulls taking the fight !We seem to have established a support around 685€ after dropping to a whooping 573€ and currently moving around in the 700€ area.
I wont go too in depth because my technical analysis skills are very limited, but taking RSI and the volume behind the engulfing hammer thats formed, this is could be the end and of the current bear market, but beware and use risk managment.
The 1h chart still is moving down from the recent high of around 790€ , close to 800€ which ha previously has been a support zone, and turned into a resistance now.
I think there is a good chance we will see a slow decline to the current support that has been established, until we move to further highs, which I'm looking for - a somewhat of confirmation.
