ETH hit the long term support then strongly rebound

ETH finally hit the long term support line yesterday and have a strong rebound now. All indicators are at the oversell area and at the crossing signal which means that it hits the lowest price from this round of bear market now. It is going to the next round of up trend until all the indicators going to overbuy with cross signal.

Comment:

Now is not a good entry point on ETH. The lowest price of this bear market is just hit. We have to give it some time on setting up the next round of uptrend. It will come back and hit the long term support line again later on but it will not lower than the dip made on yesterday.