Most cryptocurrencies fall back to their one-year-low and fluctuated in a narrow range over the past week. We can find that US stocks, which are also risky assets, fell back to the previous low, but its bulls are more dynamic than BTC in the same time last week. So it may take a long time for the crypto-market to restore bullish confidence after the LUNA event.
ETH also maintained a fluctuation trend last week, and the pressure on the lower rail of the bearish channel still exists. The current price has not fallen to the low created in July 2021, and in terms of bearish performance in the last week, although it is still dominant, it is better than BTC in view of volume and decline. Bears are consumed by bulls. The other good news is that the high-slope downside risk is gone, and prices are in the process of recovering the dumping.
Conclusion: Mostly fluctuation. ETH is in slightly better shape, with fresh bullish power having formed above the support given in the last report and now the gap is close to balance . We have narrowed resistance and support levels after a week of fluctuating in a tight range. New resistance is at 2150 and new support is at 1900. The recovery process will continue and its end will depend on when the price returns to the yellow zone.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
ETH also maintained a fluctuation trend last week, and the pressure on the lower rail of the bearish channel still exists. The current price has not fallen to the low created in July 2021, and in terms of bearish performance in the last week, although it is still dominant, it is better than BTC in view of volume and decline. Bears are consumed by bulls. The other good news is that the high-slope downside risk is gone, and prices are in the process of recovering the dumping.
Conclusion: Mostly fluctuation. ETH is in slightly better shape, with fresh bullish power having formed above the support given in the last report and now the gap is close to balance . We have narrowed resistance and support levels after a week of fluctuating in a tight range. New resistance is at 2150 and new support is at 1900. The recovery process will continue and its end will depend on when the price returns to the yellow zone.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
