ETHUSD: Where will it find support?

Ethereum crossed and closed two days ago under the 1D MA50 for the first time since February 5th. This suggests that more selling could be ahead of us but how low can the price go? We believe it will enter the green range between the 1.0 and 0.0 Fibonacci levels, which has been the Buy Zone of the two rallies of the Fibonacci Channel. It is very likely to come as close to the 1D MA100 as possible in order to attract more buyers and then rebound. As before, a 1D MACD Bullish Cross, will confirm the bullish reversal. Our next Target is between the 4.0 and 5.0 Fib Zone (TP = 5,900) at +13% more than the last Bullish Wave.

See how our prior idea has worked out:


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