ETH Fibbin This Week?

8. Aug. 2021

ETH has, by most accounts, crushed it over the last few weeks. Look at all those green days and this weekend seems to have continued this bullish trend. So after plotting a fib retracement using December lows as an anchor, it seems timely to look if there are any "important" levels to consider...and I think you'll see that there may be. Right now it looks like the 382 fib line is that level. It was a brief area of support during the monster rally earlier this year. BUT it has become a really sticky level of resistance overall. Look at the chart and you'll see that almost to the exact price, ETH was denied at the 382 fib line. This weekend it managed to break above the level and, so far, has held above it. What will be interesting is to see if 382 will get tested as a possible new support level. Ideally, longs may want to see some consolidation and accumulation around this level to potentially justify the firming up of a new, higher support level following the latest multi-week uptrend.

"Blockchain penny stocks have remained some of the most popular stocks to watch over the past year and a half. With the rise in the value of cryptocurrencies like DogeCoin, Bitcoin, and Ethereum during that time, many investors are looking for penny stocks that could benefit. Within the blockchain industry, there are a few specific niches that we can use to categorize the stocks on our watchlist...Considering this, let’s take a look at three blockchain penny stocks that are heating up right now."

The surge in crypto could have crypto and blockchain stocks on the watch list at least during pre-market hours on Monday.

Quote Source & Read More: Blockchain Penny Stocks Are Heating Up, 3 Names to Know