ETHEREUM: HOLDING ON THE SUPPORT.
Hello traders, I know the market isn't looking good and I am sorry if any of you got rekt in this dump. If you remember then in one of my BTC updates I mentioned that I am out of the scalping game and I would rather go for long-term trades. Well, there you go, we are playing the long-term game now.
Coming back to the chart, ETH is strongly holding the support range of $1100. This is a crucial point for ETH and it must bounce from here. If it breaks down the $1100 support, I am afraid that the next support will be close to $300 to $500. Flipping to the positive side, if ETH bounces back, then in a long term we can expect a rally toward the new all time high.
Supporting the positive side of ETH, we have the RSI making a hidden bullish divergence. By the way, this chart is in a 2 weeks timeframe so don't consider this for the short term.
More on ETH later. Have a good day, fellas.
Coming back to the chart, ETH is strongly holding the support range of $1100. This is a crucial point for ETH and it must bounce from here. If it breaks down the $1100 support, I am afraid that the next support will be close to $300 to $500. Flipping to the positive side, if ETH bounces back, then in a long term we can expect a rally toward the new all time high.
Supporting the positive side of ETH, we have the RSI making a hidden bullish divergence. By the way, this chart is in a 2 weeks timeframe so don't consider this for the short term.
More on ETH later. Have a good day, fellas.
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