Did not get to post this earlier, but the BTC post was similar.
Last posted about ETH downside, and it happened in mid November 2022.
Thereafter, ETH consolidated to form a bottom of sorts, and attempted a couple of breakouts after a double bottom and later, higher lows.
Arrows show where I took entries and exits.
1600 is now a resistance, and 1500 a support. Am watching for a close above or, most likely, below these levels. Thereafter, am left wondering if 1400-1420 range would hold as a support. IF it does, then it is really good news, else it would be a painful breakdown to the previous lows.
I am more inclined to see a deep retrace but only to support where I am expecting stronger support demand to re-appear sustainably.
Watch as it unfolds...
Btw, it appears that metaverse coins are probably the hottest in this preview rally. So, will start keeping a closer eye on the likes of SAND and MANA.
Last posted about ETH downside, and it happened in mid November 2022.
Thereafter, ETH consolidated to form a bottom of sorts, and attempted a couple of breakouts after a double bottom and later, higher lows.
Arrows show where I took entries and exits.
1600 is now a resistance, and 1500 a support. Am watching for a close above or, most likely, below these levels. Thereafter, am left wondering if 1400-1420 range would hold as a support. IF it does, then it is really good news, else it would be a painful breakdown to the previous lows.
I am more inclined to see a deep retrace but only to support where I am expecting stronger support demand to re-appear sustainably.
Watch as it unfolds...
Btw, it appears that metaverse coins are probably the hottest in this preview rally. So, will start keeping a closer eye on the likes of SAND and MANA.
