Checking back in with Ethereum rather soon since our last post but we got the break the bulls have been waiting for and ETH has broken through the resistance line in our wedge that's been intact since June 2019. Data from on-chain analytics resource Santiment on July 23 suggested that 700,000 ETH ($182.7 million) made its way to exchange wallets in just three days this week. Ethereum 2.0 is set to launch its final testnet in early August. If there is anything Crypto has taught us is buy the news,
sell the event as whales can easily take profits at a moments notice and leave the rest holding the bags.
Targets:
1. Looking for support to be established between that $235-250 region where we will accumulate some more ETH.
2. First Bull target after that $285 level
This will be immediately invalid if ETHUSD decides to fall back inside the Wedge pattern and we get a bull trap.
We're also watching along with ETH, the BTCUSD chart. BTC has yet to break it's resistance target. Keeping a close watch as BTC could bring the whole sector down with it if it fails to break and begins to dip as well. Right now ETH is outperforming BTC, but always good to check and see what BTC is also doing.
Hit us with a like and a follow for more updates. Stay tuned...
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwis
sell the event as whales can easily take profits at a moments notice and leave the rest holding the bags.
Targets:
1. Looking for support to be established between that $235-250 region where we will accumulate some more ETH.
2. First Bull target after that $285 level
This will be immediately invalid if ETHUSD decides to fall back inside the Wedge pattern and we get a bull trap.
We're also watching along with ETH, the BTCUSD chart. BTC has yet to break it's resistance target. Keeping a close watch as BTC could bring the whole sector down with it if it fails to break and begins to dip as well. Right now ETH is outperforming BTC, but always good to check and see what BTC is also doing.
Hit us with a like and a follow for more updates. Stay tuned...
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwis