Hello my dear ETH traders & HODLers, hope you're doing well guys!
In this special ETH analysis, we're gonna be looking at Ethereum longer term with our fibo tools: are we in a core trend or what does this correction mean?
We can clearly see that Ethereum is hugely oversold, not just in US-Dollars, but also the direct correlation to Bitcoin. Nonetheless, ETH's price will highly depend on if big brother Bitcoin can defend 6.000. If not: we have key supports coming up at 155 and 136 respectively.
Have fun watching! ;)
If you had some value from my analysis, make sure to like & follow me so you don't miss it next time, I'm doing Daily Crypto Analyses! I wish you a good trading! :) No matter what you do, please set your stop loss. For short trading: Please be aware, that you can lose all your money on Bitfinex if Tether blows up/and or they just close, as compared to Coinbase, who do not offer short trading, but who have at least an insurance up to 250k. Dollars
Anyway I believe that the downtrend in ETH is over! This is why I think so: