Ethereum & MA200 Situation Quite Different: $1,500 or $800?The situation with Ethereum and MA200 is quite different compared to Bitcoin and Solana, which we reviewed just now.
Here we can see that Ethereum is trading much lower to this indicator, the bounce leads nowhere near to it and this means that the pair is weaker. There is a positive side to this though. It can also signal that Ethereum will bottom faster or, worst yet, that it will move much lower because it lacks support.
Now, we are looking at the 1500 level for Ethereum because this is the October 2023 low/support, but there is something happening with Coinbase buying all the Ether in the world that points to a potentially lower price. They are buying billions upon billions to sell to institutional investors are a later date. This can signal a price in the low 1000s, but this is explained on a different trade idea.
Right now we are looking at MA200 and we can see that it is starting to curve down. This is bearish short-term but long-term can be bullish.
A crash is upon us, yes, but the bottom is very close and, once the bottom is in, we will see growth long-term.
Do what you have to do to protect yourself.
Remember, whatever happens, life will continue, the market will continue and it will recover and we will have massive growth in 2025. This is all happening but this is a short-term event. It can all unravel in a few days and the entire process several months.
We are back growing in late 2024 and we are gaining bullish speed after February 2025.
Thanks a lot for your continued support.
Namaste.
