Hello traders
Here's a weekly time-frame of Ethereum : US Dollar , as you can see it is somehow mimicking BTC .
Ethereum anticipated a massive sell-off from the 356 crucial level of resistance that was covered last week, and is now sitting at a support region around 285.
With major of alt-coins already being on a support region, it gives me an 'indication' that the majority of big players would move their capital from btc to alts, as there as much more profit to be made, this is one of the scenarios that i am most aware off, because it was the same one that happened in 2017 which made more new investors buy at ATH and basically get REKT.
Technically speaking if the bullish momentum sustains we could see ETH spike from the support region and push towards 356, should we break above as you can see I have already highlighted the next targets with 500 being the first one.
However if we break below this support area of 273 prices can extend towards 250.
Here's a weekly time-frame of Ethereum : US Dollar , as you can see it is somehow mimicking BTC .
Ethereum anticipated a massive sell-off from the 356 crucial level of resistance that was covered last week, and is now sitting at a support region around 285.
With major of alt-coins already being on a support region, it gives me an 'indication' that the majority of big players would move their capital from btc to alts, as there as much more profit to be made, this is one of the scenarios that i am most aware off, because it was the same one that happened in 2017 which made more new investors buy at ATH and basically get REKT.
Technically speaking if the bullish momentum sustains we could see ETH spike from the support region and push towards 356, should we break above as you can see I have already highlighted the next targets with 500 being the first one.
However if we break below this support area of 273 prices can extend towards 250.
