ETHEUR trade ideas
ETH/EUR possible short term correctionETH EUR reached the resistence of the uptrend channel.
There is a possibility of a short term corrction.
There are 2 levels of low volume that could offer support. If these will be invalidated we could point at the 2900 POC level.
However I remain bullish in the long term.
Pressure building can we top at €3400 and then drop down some?Just a prediction for today, I dont wish to proclaim I am a TA pro so please just take my ideas with a pinch of salt, Newbie central here. Anyway, I hope to see a fast rise, pressure building up for a push, lots of great utilities with ETH and greatly anticipated ETH2 launch money will pour back in for Staking.
ETH H&S Patternlooks like potential correction with targets somewhere around 2350
"The profit target for the pattern is the price difference between the head and the low point of either shoulder. This difference is then subtracted from the neckline breakout level (at a market top) to provide a price target to the downside." - Investopedia
Correction is inevitableIn the lights of transaction capacity max´d out once again, only rather vague solutions somewhere on a far distant horizon, and transaction fees skyrocketing as a consequence, Ethereum is massively overvalued - or better put overhyped - to say the very least.
Hence, there is a very real chance that we gonna see a proper correction up to 70% from its top within the coming 6 weeks.
Also a perfect opp to hedge the other long positions.
Enjoy & All the Best!
