ETH is looking strong at the moment having come down in a controlled fashion (in all this carnage) to support and the .618 FIB line. This is a good place to enter into a trade for this coin. I would expect it to consolidate and then continue upwards from here. On the other hand, if BTC decides to take the next leg down to support around 8000, it will be under pressure again from above, but like XLM, should hold its ground fairly well and would be safe place to hold if you are in a trade.
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We have just passed the current resistance/ support at 1100 and will be going to 1166 if all goes well...
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We are getting pulled slightly by the decent of BTC and could possibly retouch the support...If it becomes overwhelmed next support would be at 1062 and 1043, and this would be very strong. If BTC goes all the way to its major support at 7900, these levels are what I would expect but it all depends on market reaction to this scenario
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correction, 961 would be first support at 50% FIB and then 918....
I hope your right and Ill be watching. BTC took down everything it could over the last few hours and I hope it can find some footing. Im beginning to think that BTC is the only chart worth watching at this point if we really want to know what is going to happen to any of the others...
danielgwatkin
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@Bremily01, Yes you are absolutely right at this point, but I have seen ETH lead the way on a few occasions over his big brother, but not this time. BTC has to be your first stop as it can predict to a certain degree what will happen to many of the coins out there. Having said that, looking at LTC and ETH today, it had limited effect from my point of view and they are looking at much safer coins to invest in.....