$1750 is the level to watch
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ETH has been looking particularly strong throughout this relief rally, but I'm expecting resistance around $1750-$1800. This is a strong historic support/resistance level, and we can expect short pressure to pick up and long pressure to drop off substantially here. So a break above this level would tell me the bulls are back firmly in control.
It's also worth noting that we saw the weekly RSI dip below 30 at the recent local bottom ($880). The last time that happened was at the 2018 bear market bottom. I think the price action around $1750 will provide a lot of insight as to whether $880 is our current bear market bottom, or just another local bottom of a continuing bear market.
It's also worth noting that we saw the weekly RSI dip below 30 at the recent local bottom ($880). The last time that happened was at the 2018 bear market bottom. I think the price action around $1750 will provide a lot of insight as to whether $880 is our current bear market bottom, or just another local bottom of a continuing bear market.
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