Overall ETH has been inside a bullish trend setting Higher Highs/Lows. ETH has made considerable progress breaking the 2.8k to 3k resistance and establishing it as support.
Is Another Rally Possible? Per the conditions of a bullish trend, we continue to expect ETH to rise. However, ETH has struggled to make new highs. While still bullish continued rejections and retests of the 3000 support opens potential for a reversal.
Strategy: As always, its best to let the market make the first move then react based on your conditions. What we see is the 3k support has been tested twice and has held. To suggest any reversal, price must break below the 3k and then the 2.9 breaking two previous lows and testing the support zone.
Until then ETH is still bullish and we expect ETH to continue to rise and look for buy setups on the retests of both the trend and support zones.
Best of Luck, Like/Follow for more
- Analysis of ADA coming later today
Is Another Rally Possible? Per the conditions of a bullish trend, we continue to expect ETH to rise. However, ETH has struggled to make new highs. While still bullish continued rejections and retests of the 3000 support opens potential for a reversal.
Strategy: As always, its best to let the market make the first move then react based on your conditions. What we see is the 3k support has been tested twice and has held. To suggest any reversal, price must break below the 3k and then the 2.9 breaking two previous lows and testing the support zone.
Until then ETH is still bullish and we expect ETH to continue to rise and look for buy setups on the retests of both the trend and support zones.
Best of Luck, Like/Follow for more
- Analysis of ADA coming later today