jpktraders
Long

Ethereum - demand rules!

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
The second in ranking cryptocurrency in the last 24 hours lost over 3%, and its capitalization is over USD 65 billion. In four days, we recorded increases reaching the new ATH             at 750 USD. Capitalization, on the other hand, reached a surprising level of over 72.5 billion USD. The ETH network exceeded 10 transactions per second, which resulted in a significant number of pending transactions.

Looking at the chart, it can be seen that the downward correction started at the point of 261.8% of the internal Fibo abolition of the previous downward correction.
While looking at Fibo's measurement of the recent upward trend, it can be noticed that the price reacted to 38.2% level and moved north.

If the declines continue, a good place to buy will be the abolition of Fibo 50% coinciding with the support of 576.5 USD.

Alternatively, in the case of further increases from the level in which we are now, a good place to buy will be breaking the resistance of 750 USD and its test from above.



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