Hi guys,
Just like BTC, ETH was rejected close to an important zone on Monday - 100-day EMA + and near the horizontal support at $190. Unlike it, however, it found its bottom and temporal stability at an already very strong and stable S/R line that is $170.
The price remained almost flat yesterday with little to no swings, but today it is showing some signs of revival, hovering around $175.
From here we need to make the big step towards $190, but this will be in a direct contradiction to what we just said in the BTC analysis where the sentiment is bearish. Will this mean a break of the correlation or ETH will just follow Bitcoin down ? Let' see.
I don't think there is any reason to worry on the smaller timeframe since the current move to the upside looks stable.
Cheers,
Just like BTC, ETH was rejected close to an important zone on Monday - 100-day EMA + and near the horizontal support at $190. Unlike it, however, it found its bottom and temporal stability at an already very strong and stable S/R line that is $170.
The price remained almost flat yesterday with little to no swings, but today it is showing some signs of revival, hovering around $175.
From here we need to make the big step towards $190, but this will be in a direct contradiction to what we just said in the BTC analysis where the sentiment is bearish. Will this mean a break of the correlation or ETH will just follow Bitcoin down ? Let' see.
I don't think there is any reason to worry on the smaller timeframe since the current move to the upside looks stable.
Cheers,
Kommentar:
Do or die for ETH - fighting to move into the $190 S/R zone. Looking strong.
