The chart of Ethereum
is very similar to the chart of Bitcoin
. Both prices of the crypto currencies are correcting and the most important question here is: Is the correction over? Probably yes, We did see a retrace back from the ATH
about 70.5% which is the same amount we did back in the rally of June 16. So, if you bought Ethereum
for 600$ a week ago.. well done. 600$ was the bottom of the descending channel
as you can see in the chart. There is a good chance that we may see the top of the channel soon. First we have to break through the 900$ resistance and we may see the 1000$ levels. If the price breaks out the channel there can be opportunities for a new ATH
. 1000$ is a good price to sell some coins since there might be a chance for a lower low and for opportunities to buy more for lower prices.