Price has generally been accepted at 1220 for the past week and I expect to see a retrace at least to that area. With all the trouble
ETHUSD
has finding buyers above 1250 a retrace makes sense at least until there is more demand in ALT coins. Consider this, many bought ETH on these initial breaks, few if any made any profit and the smack off of these levels if often quick and violent. The swing low would be 1169 and with amount of volume that is conducted around there any at any price under 1200 for that matter, a drop to those levels makes sense with no defined price floor for ETH
ETHUSD
has finding buyers above 1250 a retrace makes sense at least until there is more demand in ALT coins. Consider this, many bought ETH on these initial breaks, few if any made any profit and the smack off of these levels if often quick and violent. The swing low would be 1169 and with amount of volume that is conducted around there any at any price under 1200 for that matter, a drop to those levels makes sense with no defined price floor for ETH