ETH has completed significant pullback, can go up or down

The pump a few days ago has helped ETH break the 50W MA that it'd been under. That said, we have had almost 9 green candles with signs of exhausting momentum. Price has retraced a lot & one may say that the target is reached.

I see two scenarios:

1. Price continue to go up driven by Sunday whale pump (around 12pm UTC). The $550-$600 zone is where 50D, 200D & 0.618 / 0.5 fibo levels are at. That provides a good dump opportunity that will send the price back down possibly to $360 levels.

2. Price corrects from here and seeks support from 50W MA.

Kommentar:

bearish divergence; drop soon

Kommentar:

Kommentar:

can't believe how bullish the market has been. will it drop or not?

in theory should correct a little, but people are crazy now