ETH started a nice recovery. We are now in a correction of the first wave from $167.05 to $223.99. I see entry point at around $195.6 (0.5 Fib correction and 1H 50MA).
We have 2 scenarios:
1. ETH break downtrend channel and go to $280, correct to $240-250, and rally to $300.
or
2. ETH is in ABC correction, and after touching $250 we can see another drop to retest previous lows.
I think that first scenario have a bigger probability, because we have a big volume confirmation.
We have 2 scenarios:
1. ETH break downtrend channel and go to $280, correct to $240-250, and rally to $300.
or
2. ETH is in ABC correction, and after touching $250 we can see another drop to retest previous lows.
I think that first scenario have a bigger probability, because we have a big volume confirmation.
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