My advice to traders:
Wait for the first Ethereum correction and buy and sell at $4900
Why?
16 days ago, the price of Ethereum started declining in preparation for a rally, like many other cryptocurrencies, which is what we call a “correction”.
While this correction was taking place, the price of the coin fell slightly and for a short time below the $4,000 price. Then it started to rise again and it started going through what we call in technical analysis a “triangle”.
From a technical point of view, we see that the lowest price of the currency on the day is higher than the day before it, “a bottom greater than a bottom”.
From studying the chart, we find a clear “resistance” at $3,500.
If the currency continues to rise and reaches the price of 3500 without falling on its way to the price below 4150, this means “breaking the resistance” and the currency will start to rise irreversibly, announcing the end of the correction, and the currency will make its way to the price of 5000 dollars.
Wait for the first Ethereum correction and buy and sell at $4900
Why?
16 days ago, the price of Ethereum started declining in preparation for a rally, like many other cryptocurrencies, which is what we call a “correction”.
While this correction was taking place, the price of the coin fell slightly and for a short time below the $4,000 price. Then it started to rise again and it started going through what we call in technical analysis a “triangle”.
From a technical point of view, we see that the lowest price of the currency on the day is higher than the day before it, “a bottom greater than a bottom”.
From studying the chart, we find a clear “resistance” at $3,500.
If the currency continues to rise and reaches the price of 3500 without falling on its way to the price below 4150, this means “breaking the resistance” and the currency will start to rise irreversibly, announcing the end of the correction, and the currency will make its way to the price of 5000 dollars.