Hey folks,
I hope you all are doing ok in this recent dump. My last post was on BTC weekly chart and there I clearly mentioned the most likely scenario.
On this chart, let us talk about Ethereum. Where is it heading? What's next?
ETH is on a downfall and since the 1st of Dec 2021, it is dropping down. Percentage-wise it is around -28% drop and the $$$ difference is $1370 (from $4775 to $3406).
Okay, so, here's what I expect from ETH. Currently, ETH is at good support (the lower trendline). We can expect a bounce incoming from here but we also need to keep in mind the breakdown below the support line.
So, if ETH bounces back from the current level then we can expect ETH to reach $3600 to $3700.
On the other hand, a breakdown will drop the price up to $3160 (strong support).
That's it from my end.
If my ideas are of any help to you then do like and comment.
Trade safe.
I hope you all are doing ok in this recent dump. My last post was on BTC weekly chart and there I clearly mentioned the most likely scenario.
On this chart, let us talk about Ethereum. Where is it heading? What's next?
ETH is on a downfall and since the 1st of Dec 2021, it is dropping down. Percentage-wise it is around -28% drop and the $$$ difference is $1370 (from $4775 to $3406).
Okay, so, here's what I expect from ETH. Currently, ETH is at good support (the lower trendline). We can expect a bounce incoming from here but we also need to keep in mind the breakdown below the support line.
So, if ETH bounces back from the current level then we can expect ETH to reach $3600 to $3700.
On the other hand, a breakdown will drop the price up to $3160 (strong support).
That's it from my end.
If my ideas are of any help to you then do like and comment.
Trade safe.
