After a quick and sharp selloff along with the rest of the crypto markets, Ethereum could be forming a local bottom right around the range low after testing the demand zone.
A conservative place to take some profit would be around the middle of the range which is $215, but this could make another push into the supply zone around $250.
If it gets rejected around $215, that would be a nice spot to flip short target somewhere around $175-$185, and possibly a new yearly low.
Let's see what the bulls can do here.
A conservative place to take some profit would be around the middle of the range which is $215, but this could make another push into the supply zone around $250.
If it gets rejected around $215, that would be a nice spot to flip short target somewhere around $175-$185, and possibly a new yearly low.
Let's see what the bulls can do here.