My chart from 2 weeks ago has been okishly correct till now:
Now, we're at the critical 0.382 support of the pump from April. It's not surprising that ETH & the altcoins that follow it are showing some resistance from falling.
IMHO, the more likely scenario still plays to the down side.
However, we mustn't ignore the scenarios where ETH stabilizes in this area & lead another bullish move in a few days.
I give it 60:40.
Short entry should be below the .382 level (not shown on chart), but do watch out for the 50W level. Once 50W is penetrated, price may free fall.
Now, we're at the critical 0.382 support of the pump from April. It's not surprising that ETH & the altcoins that follow it are showing some resistance from falling.
IMHO, the more likely scenario still plays to the down side.
However, we mustn't ignore the scenarios where ETH stabilizes in this area & lead another bullish move in a few days.
I give it 60:40.
Short entry should be below the .382 level (not shown on chart), but do watch out for the 50W level. Once 50W is penetrated, price may free fall.
Comment:
big eth dump today, any news?
