New ETH analysis - Back to bull market?It looks like ETH is making an attempt to push towards ~3k coming days/next week. Alts are performing pretty decent as well, which is what you want to see for bullish continuation - An overall strong market, not just BTC, so I'm giving this a high chance.
As I said in my BTC analyis, 61k is the level to hold for BTC for the next 2-3 days, for ETH this level would be ~2.7k.
Key level for ETH is around 3.2k (monthy open), if we see this month close above this level, it's a matter of time until we see ETH picking up momentum again heading into september.
3.6k should be a tough nut to break and we could see a higher low around ~3k before going up much higher. So ideally you want to see ETH forming higher lows from now on but once it gets back above 2.8k this would aready be my invalidation level (on a daily close that is).
Still believe ETH is primed for 5-6k+ this year but it will likely be the last leg of this bull market. Don't dare to predict when it's going to happen, but it will surely take another 2-3 months.
So as a trader you basically just let your positions ride at this point. Any entry below 2.8k is quite decent, so don't worry if you didn't catch the bottom of the flush we saw few weeks ago.
Stay safe!
